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12:09, 04 July 2026
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Sovcombank Reports Higher Customer Conversion With AI Product Guides

Russia's Sovcombank has started using artificial intelligence to analyze the terms of financial products as part of its production workflows. The bank says customer conversion among users of the new AI tool is significantly higher than among those who did not use it.

Photo: Banki.ru

Sergey Khotimsky, First Deputy Chairman of the bank's Management Board, announced the results during a session at the Bank of Russia's Financial Congress in St. Petersburg.

"As part of our pilot project, every deposit product includes an AI-generated guide with a detailed description of its terms. Customers can click a button, review the information, and make a decision. We see that purchase conversion among those who use the guide is significantly higher than among those who ignore it. We do not see any negative impact on sales. We believe this will benefit consumers. Ninety-seven percent of customers who read the AI-generated guide said it was convenient and useful," Khotimsky said.

The pilot project involved nine banks developing AI solutions for mortgages, deposit products, credit cards, and KASKO comprehensive auto insurance. Sovcombank has already deployed AI-generated guides for deposit products and credit cards based on domestic large language models and plans to expand the technology's use.

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