Promsvyzbank (PSB) named Pavel Sokolov, of St. Petersburg, the winner of its mobile app competition on Tuesday.

Sokolov's winning idea involves launching additional applications in tandem, so that the user has a full range of services and options available from his mobile device. 

He will receive $2,797.75 for the app. 

PSB used the competition to explore different methods of reaching its clients over mobile devices to facilitate stronger bank-to-client communication.

More than 600 contestants from throughout Russia, Latvia, Ukraine and Belarus entered the contest.

Entries were judged on technical feasibility, innovation and realistic methods to handle real-world business problems.

"Such activities help us to create for clients modern technological solutions that expand the boundaries of traditional financial services," Vladimir Shatalov, managing director of product development for PSB, said. "With the majority of the participants of this contest, we are looking forward to build long-term partnerships and use their ideas in future products."