ICBC Bank, New Partner of CFT

ICBC Bank and CFT have signed an agreement under which CFT-Bank Applications for drawing-up of reporting in compliance with CBR requirements and Settlement Center Applications for interbank and interbranch settlements will be implemented in the infrastructure of the financial organization. 
 
ICBC Bank is a Russian bank with 100% foreign capital. The sole founder and shareholder of the Bank is the major Bank of the People’s Republic of China and the world’s leading bank, Industrial and Commercial Bank of China Limited – ICBC.
The Bank was founded for rendering of comprehensive high-quality financial services to Chinese and Russian export and import enterprises, investment in projects and financing of enterprises in real sectors of economy, handling international accounts and conversion operations, helping develop trade and economic relations, and organizing the investment and business cooperation of the two countries.
 
In the course of the future IT project, CFT-Bank Applications will be integrated with the core-banking system used by the financial organization.
 
The complex of CFT Applications for drawing-up of reporting in compliance with CBR requirements allows fully automating the process of preparation of reports regulated by the Central Bank of Russia. The functionality implemented in the Applications provides quick and high-quality document generation for submission to the CBR and other regulatory authorities.
 
Settlement Center Applications allow processing electronic payment documents of any format with execution of respective accounting operations, which helps significantly reduce the costs and risks for interbank and interbranch settlements.
 

 
ICBC Bank has CBR license No. 3475 of September 01, 2015 for performance of banking transactions. The authorized capital of the Bank is 2,309,500,000.00 (Two billion three hundred and nine million five hundred thousand) rubles. The Bank was founded as a Russian bank with 100% foreign capital. The sole founder and shareholder of the Bank is the major Bank of the People’s Republic of China and the world’s leading bank, Industrial and Commercial Bank of China Limited – ICBC. Official website: www.icbc.com.cn.