Saba (NASDAQ: SABA), the premier provider of people-centric enterprise solutions, announced today that Sberbank, the largest bank in Russia, is using its solution to transform people development across the country through a strategic program called the Virtual School of Sberbank. Founded in 1841, Sberbank comprises 17 local banks with more than 18,000 branches and over 230,000 employees throughout Russia. Following numerous acquisitions and mergers, Sberbank faced an unprecedented challenge and opportunity to transform itself into a unique and diversified financial institution. With its employee base increasing and new cultures joining the bank, the goal was to find a way to easily train managers and personnel while increasing collaboration and crowd sourcing to spread best practices. Sberbank created the Virtual School of Sberbank and selected Saba’s modern learning platform based on its ability to meet key criteria such as ability to scale, visual usability, extended testing functionality and accessibility from anywhere at any time. The Virtual School of Sberbank is planned for an initial three-phased rollout during 2013. The first phase was implemented in January to 1,500 managers who are using Saba’s learning management system, webinars and base testing functionality to interact with each other across various locations and to study via e-learning courses to increase their competency level. Today, the Virtual School of Sberbank gives access to 54 online courses, with new classes introduced on an ongoing basis. “In the first few months since rollout, we’ve seen increased access to learning and development programs, and across a range of regions and acquired companies,” said Andrey A. Leushev, vice president of the Innovative Products Department at Sberbank. “We can already see how the usability, scalability and flexibility of Saba’s learning platform will enable us to develop our people in ways that we couldn’t before, thus helping make our teams more agile, current and efficient. We’ve provided an initial group of management with learning courses and compliance training, and look forward to the next phase of the rollout this summer.”
Saba Software (Nasdaq:SABA) is trading at unusually high volume Thursday with 1.4 million shares changing hands. It is currently at four times its average daily volume and trading down 75 cents (-8.8%).