VTB Foresight Projects

Work on the Bank’s digital transformation is being carried out in the form of foresight projects. Each project is aimed at the creation and development of digital products based on the most advanced technologies available: big data, blockchain, artificial intelligence, biometrics, and the Internet of things. Five foresight projects were launched in 2017, and the Digital Transformation team from the Information Technology Department developed 17 new products in 2018, while also continuing to develop earlier products.


Foresight projects 2018 results
Common identification system: client authentication using biometric technology. Launched in 2017.
  • The first stage of the pilot project on biometric authentication of clients in the Corporate-Investment Business’s Client Support Centre was successfully completed. Using a special application, operators can identify corporate clients based on biometric voice data.
VTB's common multichannel biometric platform.
Project launched in 2018.
  • The business requirements and platform functionality were determined;
  • Requirements from departments involved were collected and analysed. Options for the use of a biometric platform for VTB Group were identified;
  • The high-level architecture was developed and approved;
  • Compliance of the Bank’s information systems with the requirements presented for information systems that process biometric personal data was ensured.
Contactless and biometric authentication system.

Project launched in 2018.

  • A fast, easy-to-use authentication system was created for shareholders at annual and other meetings.
Data monetisation service:
a big data analytics system for building predictive and advisory models with the application of machine learning.

Project launched in 2017.

  • A monitoring system for corporate clients regarding the risk of loan defaults is being put into operation;
  • A platform for analysing big data was created that is connected to internal and external data sources to enrich the internal analytics and improve the quality of predictive models; connections are in place to the most advanced libraries for data analysis and machine learning available, including using neural networks;
  • A pilot project was completed to predict loan defaults by corporate clients based on an analysis of news feeds;
  • A pilot project (pilot cross-organisational model) was completed for predicting the acquisition of financial products and services of partner companies by Bank clients based on an analysis of customer transactions;
  • A hyperdata project is at the implementation stage: a big data platform for analysing customer data.
Geoanalytics

Project launched in 2018.

  • A pilot project was launched to create a service that uses data from geo-coordinates and map visualisation.
Common digital transaction service:
support for paperless transactions based on blockchain technology.

Launched in 2017.

  • A prototype for the Digital Banking Guarantee System was developed;
  • The first test transactions for the issuance of digital bank guarantees were conducted.
Open API.

Project launched in 2018.

  • A pilot project was launched to create a portal for developers and open interfaces for the bank’s partners within MSB global business line.
Omnichannel communications system:
communications system based on advanced communication platforms.

Project launched in 2017.

  • Prototype for a Unified Digital Communications System developed.
Augmented reality platform: integration of real objects (brochures, leaflets and other VTB advertising media) into a virtual environment in order to obtain more extensive information about Bank products and services through smartphones.

Project launched in 2018.

  • Prototype platform developed.
Intelligent personal assistants for clients (using the Yandex Alice smart speaker system).

Project launched in 2018.

  • A working prototype was created based on Yandex's Alice smart speaker system service to advise clients.
Intelligent robot collector.

Project launched in 2018.

  • A pilot project was completed with testing of the functionality for making first call to clients with overdue loans. The result of this communication is automatically recorded in the Bank’s systems.
Corporate-Investment Business chat service.

Project launched in 2018.

  • Additional functionality implemented within the digital communication platform, improving interaction between the Bank and its Corporate-Investment clients;
  • Preliminary research conducted.
VR Mortgage.

Project launched in 2018.

  • The concept for an immersive remote service was developed to help the Bank’s clients choose real estate.
Digital payment service:
a blockchain-based payment system.

Project launched in 2017.

  • A patent was received for technology used to create blockchain-based multi-issuer payment systems;
  • A tool for blockchain-based p2p transfers was developed: the Digital Payment Service.
Blockchain-based multi-issuer loyalty system.

Project launched in 2018.

  • The concept for a blockchain-based multi-issuer loyalty system was developed. The system takes into account the interests of all potential participants: the city, its inhabitants and businesses.
Short-module training platform.

Project launched in 2018.

  • A mobile application was developed that enables call centre employees to acquire new knowledge more efficiently and to maintain it;
  • Content for the application is being developed.
Internet of things

Project launched in 2018.

  • Prototype tested for automatic data collection from housing and public utilities meters.

Expected impact

At the end of 2018, several developments with a proven impact were being piloted at the bank:

  • An intelligent robot collector that allows the Bank to save up to RUB 18 per minute per call, which is 7 times cheaper than a call from an ordinary operator;
  • Voice biometrics for servicing corporate clients, making it possible to reduce operational risks and provide improved service quality. The overall impact of the introduction of these technologies is estimated at RUB 392 million over five years.