Sberbank launching AI chatbot in Sberbank Markets system

1 february 2019

Sberbank announces that it has integrated a chatbot into the online support interface of its Sberbank Markets electronic trading system and started its public testing.

At the first stage of integration, the chatbot will primarily provide answers to clients’ frequently asked questions about using Sberbank Markets. In the future, the chatbot will take on more functions: it will be able to notify users about trading and settlements and let the bank’s clients carry out transactions with different asset classes directly in chat format.

The chatbot employs Sberbank’s Natural Language Processing (NLP) platform, which is able to processes natural language and dialogue with clients. A chat module in the trading terminal is connected to the NLP platform. To start working with the chatbot, all the Sberbank Markets user has to do is send a question via the message window of the trading terminal. The user does not need to enter any special commands to communicate with the chatbot because the system interprets ordinary text and provides the optimal answer, requests clarification or forwards it to an operator if the question is not covered by its knowledge base, which is continuously updated.

The Sberbank Markets chatbot has been developed by Sberbank together with technological partner ARQA Technologies, which provided functional support for the chatbot at infrastructure and interface levels.

Andrey Shemetov, Vice President of Sberbank and Head of the Global Markets Department: 'Robotic automation of standard client support processes is one of the key trends of service technology. Chatbots let us automate many client interaction processes, which will almost instantly provide answers to the most common questions and rapidly complete the main tasks with the Sberbank Markets support team. These sorts of solutions have been successfully used in various Sberbank products for a long time. Sberbank Markets will feature our next generation chatbots, which we have developed in cooperation with ARQA Technologies and take into account our entire digital service experience.'

Vladimir Kurlyandchik, Business Development Director at ARQA Technologies: 'Thanks to continuous and effective cooperation with the Sberbank team, our company is successfully supporting the development and application of innovative features in the software products of ARQA Technologies used in the Sberbank Markets project. A number of software components of the FX Dealing System, which the Sberbank Markets trading terminal is based on, had to be modified in order to deploy the Sberbank Markets chatbot. We are glad that our joint work provides the bank’s clients with modern tools for working on the FX market.'

Sberbank Markets is a specialised online trading system that provides Sberbank’s corporate and institutional clients access to foreign currency and money markets. Sberbank Markets allows FX transactions with TOD, TOM and SP settlement, forwards and swaps to be carried out in real time using more than 30 currency pairs. In addition it allows deposit conditions to be set. The system lets corporations centralise the FX transactions of their holdings via group orders and limits. Users can access graphs and news feeds, and set up online notifications about trades, rates, and other events. More than 2,000 corporate and institutional clients use Sberbank Markets. FX Dealing System is a software solution developed by ARQA Technologies to ensure that clients of banks or brokers can access FX market instruments. A characteristic feature of the system is its modularity, which allows the use of various functions depending on the tasks of a specific project (modern trading terminal for end users, quotation of synthetic currency pairs, aggregation and internalisation of liquidity, application of individual spreads for different tools and client groups, etc.).

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