SberBank, FNC, Rosreestr digitize powers of attorney for bank employees

Sep 23, 2021

SberBank, the Federal Notary Chamber of Russia, and the Federal Service for State Registration, Cadastre and Cartography (Rosreestr) have upgraded Electronic Powers of Attorney, letting notaries certify the digital powers of attorney held by SberBank employees when taking out a mortgage online.

The new service is an example of the new digital architecture that breaks free from the classic document management patterns. On the one hand, it is convenient, saving time for individuals and organizations, on the other hand, it is highly secure.

Nikolay Vasyov, vice president, director of the DomClick Division, Sberbank:

“While working with government agencies, we keep addressing a vital issue of providing convenient, quality, and secure services to people. The development of Electronic Powers of Attorney is aligned with this goal. We facilitate the client’s journey dramatically, allowing citizens to get the desired property in the shortest possible time.”

Stanislav Smirnov, vice president, the Federal Notary Chamber:

“The digital notary infrastructure positions us to ensure the reliability of legally significant actions and the security of civil transactions in new and digital formats. It is very important for citizens when their rights remain protected thanks to notaries amid the comfortable use of new technology.”

Elena Martynova, deputy head, Rosreestr:

“Rosreestr strengthens its digital ties with lenders and the professional community in the interests of citizens. Working with businesses enhances the development of the e-mortgage market. These deals saw a 50% increase in 18 months, which is five times higher than in early 2020. By the end of the year, we are set to achieve 60% so that real estate transactions become seamless and convenient for our key clients, people.”

Sber orchestrated its first banking transaction using a notarized electronic power of attorney in late July.