Events and results of the yearEvents and results of the year
VTB is focused on long-term and sustainable development and is building its business in such a way as to provide maximum contribution to social and economic development of the countries and regions where it operates, as well as to meet the expectations of its clients.
Financial results for the year
The new challenges of 2020 required significant development of VTB's business model, an increased focus on customers and their needs, as well as the acceleration of internal processes and optimisation of the Group's operating model.
Throughout the year, the Group implemented a number of reference technological transformation projects. Specifically, a target technology layer was introduced for a single omni-channel platform that allows customers to continuously use key services and products through any convenient channel (in an application, at offices, in a personal account, in a call centre, etc.), changing the way they contact the Bank easily and without restrictions.
As part of our technology transformation strategy, we continued to integrate robotised solutions and machine learning technologies into our digital services, such as the investment recommendation service in the VTB My Investments app. VTB also transferred the creation of all pre-approved loans and the receipt of digital credit cards in VTB Online to a new retail loan pipeline. The volume of applications to be processed quadrupled, while the period for calculating credit limits was cut threefold.