Transfer of Starbank CJSC to CFT-Bank outsourcing has been completed

Starbank CJSC and Center of Financial Technologies have completed the project of transfer of the Bank key business processes to CFT technological outsourcing support. The Bank’s previous corebanking system has been replaced by CFT-Bank information banking complex on the capacities of CFT DPC.
The project of transfer of StarBank business processes to technological outsourcing support was implemented by CFT in several stages. During the first stage, Bank security transactions were transferred to CFT outsourcing. This stage included: configuration of CFT securities Products according to the requirements of the credit organization, conversion of data from the Bank’s previous corebanking system to CFT-Bank installed on CFT servers, and online integration of the corebanking system with CFT-Bank system.
The following project stage included transfer of the Bank’s key business processes to CFT-Bank. CFT specialists performed quantitative estimation of the necessary hardware for system deployment, installation of hardware on the CFT territory and data migration to the new corebanking system.
“The StarBank project is significant for us because it is our first experience in transferring a credit organization to CFT-Bank technological outsourcing,” says Andrey Visyaschev, Chairman of CFT Group. “We are very thankful to our partner for taking a chance on this joint experiment. Today CFT actively develops this new strategic direction, and we successfully promote our precious experience – four banks are already serviced according to our corebanking outsourcing scheme. The specifics of the StarBank project were the launching of CFT securities Products in the “cloud” instead of the main corebanking system and further transferring of the main corebanking system to a remote vendor-serviced ground.”
As the result of transfer to CFT-Bank outsourcing, StarBank received independence from IT resources and from solution of incidental IT infrastructure maintenance issues. Configuration, support, update of CFT-Bank system versions and backup functions are now performed by CFT.
Along with the transfer of the Bank’s main activity to the new corebanking system, its remote banking was substituted by system, and processing of cards of international payment systems (IPS) was transferred to CardStandard processing center.