RUSNARBANK to modernize IT platform based on CFT solution

Joint stock company Commercial bank “RUSNARBANK” has signed a cooperation agreement with Center of Financial Technologies.  CFT-Bank software system will be implemented at the bank, which is part of “Region”, one of Russia’s major investment groups.
 
The main project objective is modernization of the existing IT infrastructure of RUSNARBANK. All key business lines of the credit institution will be automated on the basis of CFT-Bank system.
 
“RUSNARBANK has adopted a development strategy for the period until 2020,” says Sergey Minofyev, Deputy Chairman of the Board of JSC CB “RUSNARBANK”. “This strategy includes implementation of a large-scale banking IT system which will provide for rendering of modern banking services to customers, implementation of individual pricing policy for different customer sectors, and development of a regional sales network with regard to overall business performance improvement. Implementation of a new IT platform is a leap forward in terms of quality, especially if we speak about the bank’s basic system. On the basis of the CFT solution, we plan to create a core banking system that will most fully correspond with our bank’s business tasks and have significant potential for development. We hope that after implementing CFT-Bank system, the business of RUSNARBANK will be supported at a high technological level. We are going to install the new software independently by efforts of our project team. This will allow cutting the costs for performance of typical works on implementation of a new core banking system.”
 
“On the one hand, independent implementation of the project using the Bank’s resources shows the high expertise of the credit institution’s IT team, on the other hand, it proves that CFT is ready to provide different kinds of support to its customers – from turnkey system implementation to giving consultations during the system launch by efforts of the Bank’s project team,” says Andrey Fomichev, Deputy Chairman of the Board of CFT Group. “Our new partner has ambitious strategic business development plans. The task of CFT is to provide RUSNARBANK with high-quality technological support and with the opportunity to dynamically create new products and new offers to its customers. We are ready to provide our long-term experience in automation of business processes for financial institutions to our partner.”
 
The active stage of the implementation project is to start at the beginning of 2018, and the first acceptance tests are planned already for the end of the first quarter of the year.