Sberbank pioneered e-voting technology for shareholders

15 June

The bespoke e-voting platform for NSD was developed by RTLabs

The National Settlement Depository (NSD) provided Sberbank PJSC (hereinafter the Bank) with the online voting service to be used at the annual shareholders' meeting summing up the results of the Bank's activities in 2016.
The voting took place during the period of 5-23 May, 2017, as well as on the day of the meeting on May 26, 2017, when the shareholders could vote in the electronic format both remotely and at the meeting venue using personal devices or Internet kiosks.
“The possibility of remote reviewing the materials of the shareholders meeting and voting through the Internet was used by 99 shareholders of Sberbank. As a whole, 806 shareholders (including those who used the e-proxy voting technology) representing 33.3% votes of the total number of voting shares participated in the Bank's annual general meeting electronically,” a Sberbank spokesman said. Electronic voting is among the corporate practices used by the largest companies around the world, and we are happy to be the first to offer this service to our shareholders in Russia.”
To access the system, it was necessary to log in at using the approved account on the Unified Public Services Portal  or one-time login and password provided by JSC Status, the registrar of PJSC Sberbank.
Apart from the voting, the shareholders could use the functionality of the platform to remotely review the agenda and materials of the meeting, and to connect to the webcast.
The access to the service required no special technical facilities, and connection to it was available from anywhere in the world, which is especially important for Sberbank shareholders, whose geographical footprint includes all regions of Russia, FSU and other countries.
The e-voting platform allowing all security holders to personally vote at general meetings in the electronic form was developed by RTLabs, a subsidiary of Rostelecom, specifically for the National Settlement Depository (NSD).
In addition to the development of the platform itself, integration was performed with IT systems of the NSD and registrars, including JSC Status, the PJSC Sberbank registrar, as well as with the Federal Infrastructure of Electronic Government (FIEP) – the Unified Identification and Authentication System (ESIA) and the Inter-Agency Electronic Interaction System (SMEV).
When creating the e-voting platform, a technology stack was used to ensure stable operation of the system under high load, as well as open source software and Agile methodology. A mobile-friendly design allows you to work with the system using personal computers, tablets and mobile devices.
The implementation of the e-voting service on the Russian market became possible after the adoption of Federal Law No. 210-FZ that approved the use of this method of voting at shareholders' meetings starting from July 1, 2016.
“The successful debut of the e-voting technology at the meeting of shareholders of Sberbank proved the convenience and reliability of the new platform. We will offer this technology to all issuers. We already see the interest in this service from the leaders of the Russian economy,” commented on the launch of the service Maria Krasnova, Deputy Chairman of the NSD Executive Board. “E-voting is a breakthrough technology that will allow a greater number of shareholders, including foreign ones, to participate in the meetings. It will also help improve the quality of corporate governance in Russian companies and, as a result, the investment attractiveness of Russian assets.”
“E-voting is a unique solution that brings interaction between the issuer and the holder of securities to a new level. The service helps reduce the meeting organization costs, enables remote participation in the meeting from any location of the shareholder's stay and reduces the risk of errors in voting,” said Mikhail Bondarenko, General Director of RTLabs.