State-owned Sberbank of Russia has introduced a new feature on its remote banking service.

The feature, which Sberbank says is the first of its kind in Russia, enhances its letter of credit (L/C) offering on the Sberbank Business Online system.

Electronic processClients can apply for L/Cs online and submit applications to the bank to be processed.

From then on, the whole L/C document flow becomes digital. Clients can make changes to applications, send messages to the bank regarding transactions and request information from the bank.

Online informationAll information on L/Cs is available in clients' personal accounts, which can be accessed via the Internet on Sberbank Business Online.

Information includes terms and conditions of general agreements, correspondence with the bank on L/Cs, application statuses, registers of L/Cs and correspondence related to them.

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