Results of the IX Banking Summit on Innovation and Development.

The Ninth Banking Summit for innovations and development has concluded. In 2012 the event took place between 17th and 20th of May in the deal capital of Europe – Brussels. The Summit gathered more than 190 representatives of banking and high tech companies from Russia, CIS, Europe and North America. The summit was orchestrated by CFT with the support of the Association of regional banks “ROSSIA”. The chief partners of the Summit this year were MasterCard and Oracle. Also Intel and INPAS supported the Summit as partners.

The Banking Summit for innovations and development has been an annual event since 2004. In 2012 the program was especially packed: in three days participants got a chance to hear over two dozen reports, participate in numerous panels, and discuss a wide variety of questions related to increasing the efficiency of banking processes within a rapidly changing business landscape.

The plenary session during the first day of the Summit was opened by a representative of the Russian Duma, chairman of the Association of Russian regional banks, Anatoly Aksakov. While addressing the Summit attendees, Mr. Aksakov shared his perspectives on the development of the Russian banking sector in the coming few years, touched on the upcoming enhancement of the legal grounds for the financial sector and delineated the measures that will aid in the development of a civilized credit financial market.

The presentation of Gabbas Kazhimuratov (Baring Vostok Capital Partners) drew particular interest from the audience and concerned the investment of foreign parties in Russian banks and companies. Peter Farley (Farley Communications, IDC Financial Insights), continued the theme of investments, but in a different context, by noting the key market trends which set the priorities of the banks' investment in IT in 2012.

Alexander Pogudin (CFT), Karl Summanen (VTB), and Alexei Malinovsky (MasterCard) played an active role in the following discussion of the legislation concerning the national payment system and its impact on the dynamics of the development of the banking market. In the conclusion of that discussion, the co-badge project between MasterCard and Zolotaya Korona, which was announced to the market in April, was presented. Under the terms of this agreement, credit cards under two brands- MasterCard and Zolotaya Korona- will be serviced on the territory of the Russian Federation in the infrastructures of both payment systems, and in the infrastructure of MasterCard abroad. The first cards are due to be circulated in June.

On the second day of the summit, the experts' presentations were dedicated to addressing the issues of technological innovations for the banking industry. Martin Whybrow (IBS Intelligence), Mike Cowen (MasterCard Europe), Peter Farley (Farley Communications, IDC Financials Insights), Sergei Zhukov (Intel), Konstantin Harin (Oracle), and Dimitri Germanov (MasterCard, Russia), voiced their points of view concerning what the banking sector expects from IT, and the solutions that the market leaders of information and payment systems are able to provide.

The poignant theme of cloud technologies was also reflected in the presentations: Yuri Yushkov (Velvetech, USA) and Randall A. Usen (First Bank and Trust, USA) presented the case study “General Organizational Principles for the Automation of a Mid-Sized American Bank” to the audience. The presenters shared their expertise of effective IT infrastructure development for an average sized American bank with the condition of complete outsourcing.

On the third day, the practical session “Automation of Banking Activity” was held. The leading specialists from CFT presented their novel solutions for the realization of strategic banking tasks in the conditions of a rapidly changing market. Opening the session the Deputy Chairman of the Board of CFT Group Andrei Fomichev, defined CFT's new approaches to the realization of a bank's IT strategy in the current situation. These approaches include: renewing the bank's product line in an on-demand fashion, moving from the sale of individual products to the client to banking services as a complex solution, and reduction of spending. Pavel Filimonenok described the implementation of these approaches in practice in his presentation “The Practice of Rapid Implementation of CFT-Bank in a Top 15 Russian Bank”.

The questions that were not included in the tightly scheduled order of business for the forum were actively discussed behind the scenes of the Banking Summit and within the frame of the rich cultural program.

Having concluded, Summit 2012 confirmed its reputation as an effective event platform for the professionals of the banking industry. The participants also drafted the list of pertinent issues to be discussed at the 10-Year Anniversary Summit, which will take place in 2013.

Photos from the Summit >>