CFT Banking Systems in Stable Demand by Financial Market Players
In 2016, several major Russian banks and regional banks such as Energotransbank, Venets Bank, etc. chose CFT software solutions for automation of their activity and technological upgrade. CFT extended cooperation with banks with foreign participation and the CIS banks. Among the company’s new partners were Bank of China (Moscow), ICBC Bank (Moscow), Tengri Bank (Almaty), ExpoCredit Bank (Almaty), International Bank of Tajikistan (Dushanbe). The company’s portfolio of non-bank financial institutions was enriched by D2 Insurance company, Inkakhran non-bank credit institution, and other companies that chose CFT software products.
During the year, implementation projects of CFT software solutions were carried out at Bashcomsnabbank, Devon Credit Bank, Development Capital Bank, BaikalInvestBank, Gazenergobank, ICBC Bank, China Agricultural Bank and several other banks and institutions. At Asian-Pacific Bank, the CFT team successfully implemented a project of transfer of the internal accounting business processes of the financial institution to CFT-Bank system. At VTB24, servicing of corporate customer loans was transferred to CFT-Bank system. At OTP Bank, one of Russia’s TOP-50 largest banks, CFT completed a project of transfer of business processes related to customer card servicing to CFT-Bank system with three-tier architecture and multithreaded applications. At present, OTP manages over 3.7 m card agreements in the CFT system. CFT-Bank’s advanced three-tier architecture featuring shared transaction load among application and database servers, combined with multithreaded applications, allows lifting the restraints on the number of parallel users in a single core banking system, the number of customer agreements in processing, and the transaction load. It also provides the end of day (EOD) for retail without breaks in customer servicing and irrespective of the EOD of the Bank’s General Ledger.
Another achievement of CFT in 2016 was a project of automation of the activities of System Leasing 24 leasing company, which was actively engaged in partnership with non-bank financial institutions whose key activity automation challenge was at the time the transfer to the single chart of accounts. Projects of installation of CFT-Insurance Company system were carried out at Rosgosstrakh and D2 Insurance. Both insurance companies chose the CFT solution for technological support of the single chart of accounts (SCA) and new accounting rules, and automation of key business processes. D2 Insurance uses CFT software as a cloud service.
Busy project activity was carried out in the neighboring countries. CFT-Bank system was installed at Bank RBK, one of TOP-10 largest banks of Kazakhstan, and at Tengri Bank. A part of the implementation project of the new core banking system was completed at one of Tajikistan’s largest banks, Amonatbonk. In summer 2016, CFT opened an office in Dushanbe, a third one in the CIS, in order to extend cooperation with Tajikistani banks and provide individual approach and the highest quality of works to each of its partners.
In 2016, CFT successfully passed the procedure of inclusion of CFT-Bank system in the Unified Registry of Russian Computer Programs and Databases, which comprises software products recommended by the Ministry of Communications and Mass Media to be used in strategically valuable and governmental organizations. Another important event of the past year for CFT was signing of a partnership agreement with Huawei, world’s leading info-communications solutions vendor. This cooperation allowed CFT to extend the line of hardware platforms, on which the company’s software operates successfully and demonstrates a high level of efficiency and scalability.