BINBANK has completed the first stage of transfer to CFT-Bank

BINBANK and CFT have successfully completed the first stage of the project “IT platform for centralization of back office functions”. The project is carried out within the framework of implementation of the credit organization’s IT strategy till 2015.
 
The main purpose of this project is launch of a unified technological platform for organization of the operating, accounting and management policy of all Bank’s territorial and structural subdivisions. The first stage included transfer of BINBANK Central office including 30 supplementary offices to the new CFT-Bank (Platform 1) corebanking system.
 
The project started in May 2012, and the main task of the integration team was to substitute outdated information systems with respective advanced functional modules of CFT-Bank (Platform 1) corebanking system and reserve full integration with other Bank’s information services.
 
Sergey Kachura, Senior Vice-President, Head of the BINBANK Operating and Information Support Unit, stated that “the uniqueness of transfer to the new corebanking system is that it was implemented within historically short terms (6 months) and, what’s more important, without any force-majeure consequences for the Bank business and customers.”
 
“We are at present satisfied with the results of our work, everything runs according to the plan and through joint efforts with our partner we succeed to solve our tasks,” says Andrey Visyaschev, Chairman of CFT Group. “Several integration stages wait ahead. We are sure that in the result our partner will receive the IT infrastructure that will comply with its business tasks to the full.”
 

BINBANK OJSC
was established on November 1, 1993 and possesses General License of the Bank of Russia No. 2562. The main Bank owner is its President Mikhail Osmanovich Shishkhanov, who controls 98.239% of shares. BINBANK regional sales network comprises 130 offices, including 29 branches in Moscow. In November 2008 BINBANK OJSC acquired the shares of Bashinvestbank CJSC. Today BINBANK holds 39.24%, and Mikhail Shishkhanov holds 48.37% of Bashinvestbank shares. BINBANK has the status of Principal Member in VISA and MasterCard international payment systems. In December 2004 it was included in the Deposit Insurance System, and in March 2009 it was accredited as agent bank at the Deposit Insurance Agency.