Sber and ENCO Launch a Russian Neobank
Digital platforms are reshaping Russia's real estate sector. By integrating technological and financial solutions, these tools are opening new opportunities for developers and consumers alike.
Digital Bank for a Digital Economy
At the recent St. Petersburg International Economic Forum (SPIEF-2025), Sberbank and real estate developer ENCO signed an agreement to launch a neobank built on the MAS multi-agent platform. This collaboration aims to create a flexible digital ecosystem combining the IT capabilities of Russia’s largest bank with the infrastructure of a top-three regional developer with a footprint in 12 regions as of 2024.
Unlike traditional banks, neobanks offer targeted, often personalized services tailored to niche markets. The upcoming bank will focus on customized mortgage products, investment tools, and real estate management services. This integrated approach will streamline consumer access to financial tools while enhancing user experience for property buyers and developers.
Advantages for Developers
The transaction volume and speed in the Russian real estate market are already seeing positive trends, largely due to digital platforms. In 2024, nearly 20% of primary real estate transactions in Russia were completed through digital channels. These platforms also accounted for 5.89 trillion rubles in housing investments, according to Calltouch, a web analytics provider.
"Platforms cut out the middlemen, connect all market players directly, and use algorithms to forecast demand and allocate resources. This enables even small regional businesses to access the national market," said Dmitry Grigoriev, CEO of CIAN, during SPIEF.
Export Potential
The Sber–ENCO initiative reflects Russia’s broader ambitions in tech leadership. Beyond enhancing domestic capabilities, this project demonstrates the country’s potential to produce globally competitive digital solutions. The 'bank + developer' model could be especially attractive to emerging economies looking to modernize their housing and financial sectors.
MAS Platform and Fintech Integration
MAS is a cloud-based SaaS platform integrating CRM, ERP, analytics, and AI technologies. Its modular design supports localization across markets, making it export-ready. Internally, the system will support a full-scale fintech ecosystem around real estate, integrating mortgage services, digital investment tools, and digital financial assets (DFAs).
Sber and ENCO have been collaborating since 2023 on digital transformation and joint IT products. Their new SPIEF-2025 agreement builds on this foundation.
Russia’s DFA market is growing rapidly, reaching 800 billion rubles by May 2025. Across the sector, digital initiatives like QR-mortgages and digital profiles are simplifying interactions with government and financial institutions. The MAS-based neobank not only modernizes existing processes but signals a new trajectory for the entire industry. Pilot fintech products are expected within two years, with future expansion into the CIS, Southeast Asia, and Middle East markets.
