Bank Saint-Petersburg Transfers Its Operations to CFT’s Technology Platform
Bank Saint-Petersburg changes its IT platform: one of the largest federal banks in Russia implements the CFT-Bank software (Platform 1). This is the first joint project of the CFT Group and the CSBI Group aimed at transferring the operations of a major high-street bank from IBS Banker/PRO (developed by CSBI) to CFT-Bank — a new generation system.
Bank Saint-Petersburg holds strong positions in all major banking services markets and currently serves 952,600 individuals and 34,600 corporations in its 35 branches and offices in Moscow, Kaliningrad, Nizhniy Novgorod, Leningrad Oblast, and Saint Petersburg. The Bank’s strategy involves the strengthening of its position in the retail sector through the development of Internet banking, expansion of the branch network, improvement of plastic card services, acquiring, and extension of loan offers to individuals.
Pavel Filimonenok, Deputy Chairman of the Management Board of Bank Saint-Petersburg states, ‘Transfer of the Bank’s operations to a new platform is a part of our overall plan to develop IT infrastructure with a focus on the retail sector. We have researched extensively before making our final choice. We have reviewed various alternatives, including development of Banker/PRO, implementation of an overseas system or using a Russian solution. In cooperation with the CSBI Group, our strategic partner for IT projects, we have studied all possible options and selected CFT which has many advantages. We are sure this is the best alternative as it offers an excellent transitional technology to be implemented jointly by CSBI as well as optimal investment opportunities.’
As soon as in January 2012, the unified centralized system CFT-Bank will integrate the Bank’s Head Office and its five branches in Moscow, Kaliningrad, Nizhny Novgorod, Priozersk, and Kirishi.
‘The share of projects implemented by CFT in federal banks continuously grows,’ notes Andrey Visyashchev, the CFT Group’s Chairman of the Board, ‘Implementation of our IT platform in the largest bank in the north-west of Russia is a heavy responsibility and a large-scale challenge. Our new customer has many business development plans and CFT’s major objective is to satisfy the customer’s demands as required, strictly on time and ensuring high quality project support. Cooperation with the CSBI Group on the project is highly important. The CSBI Group has been the Bank’s strategic partner for more than 10 years. By combining the efforts of the companies we will be able to reduce the implementation timeframe and to minimize risks. The outcome of this large-scale project will be a fully functional, centralized, new generation banking system customized to meet the Bank’s specific demands.’
Transfer of operations to a newly centralized and high-performance IT platform will support the Bank’s development opportunities. According to Andrey Visyashchev, the Bank’s prospects after project implementation are as follows: ‘The Bank will have a powerful IT platform to enable strategic solutions. The CFT-Bank software functionalities will shift our partner’s business processes to a higher level.’
The first stage of project implementation in Bank Saint-Petersburg involves a changeover of settlement and cash services, cash recording and accounting, deposits, loans, currency exchange transactions, statutory reporting for the Central Bank of Russia, tax accounting, and document electronic archiving operations to the new information banking system.
Bank Saint-Petersburg, OAO (General License of the Bank of Russia No. 436 of September 19, 1997) is one of the largest banks in the north-west of Russia and the third largest bank in Saint-Petersburg. The Bank’s history started more than 20 years ago as a specialized state-owned bank. Currently, it is the leading credit institution in the north-west of Russia. The Bank proactively seeks for cooperation with international financial institutions and opens new ways for bank-to-bank transactions, trade financing and crediting. In 2007, the Bank leaped forward through a successful IPO. Official website of the Bank is www.bspb.ru
The CSBI Group is a group of companies that offers innovative IT solutions for the private and public sector. The CSBI Group brand joins IT companies with extensive experience in the implementation of complex projects that require an individual approach and in-depth assessment, as well as a successfully replicated products. The CSBI Group’s product line includes its own developments and solutions from the world famous leaders in the banking automation sector. The company provides a wide range of IT services, including information security, outsourcing, and system integration. The CSBI Group is a second company among the TOP 100 Russian IT companies in terms of growth based on its 2010 performance. Official website is www.csbigroup.ru.