Russia's Sberbank enters tech space; to compete with Google, FB, Amazon

The 179-year-old bank, which commands a market valuation of $67 billion and is majority-owned by the Russian government, is present in 17 other countries, including in India through branches

Russia's biggest bank Sberbank on Thursday announced a major makeover to transform itself into a technology giant with the launch of a host of products and services in the digital space which will be first rolled out in its home market and taken abroad later, including to India.
 
However, the expansion would depend on the success of the new offerings in Russia and on regulatory and other compliance requirements in foreign countries.
 
The new offerings announced by Sberbank include SmartMarket platform, which will be available for external partners for creating apps on the lines of Apple's AppStore and