Monolit CB has been transferred to CFT-Bank outsourcing

Monolit CB and Center of Financial Technologies have completed one of the project stages on transfer of the Bank’s main business processes to technological support based on CFT outsourcing. CFT-Bank banking information complex used in the credit organization is being transferred to CFT data processing center.
The Bank head office in Moscow and branch “Astrakhanskiy” have already been transferred to full CFT-Bank outsourcing. Now CFT specialists are engaged in transferring branch “Nevskiy” (Saint-Petersburg) to CFT-Bank outsourcing.
Monolit Commercial Bank is one of the oldest credit and financial organizations in the “new” Russia. In its activity, the Bank successfully combines brand new technologies used in the world banking practice with the best Russian banking traditions. Transfer to CFT-Bank outsourcing will allow the credit organization to decrease the costs on support of IT infrastructure and therefore the net cost of banking services.
Along with the transfer of the main banking activity of Monolit to the CFT-Bank system, the remote banking system of the credit organization has been replaced with the system. Since the beginning of July this year the bank customers have been serviced in the new remote banking system.
Aleksandr Danilin, First Deputy Chairman of the Board of Monolit CB says: “Apart from the convenient solution for several specific tasks such as automation of bullion transactions, which is our bank’s traditional specialization, we have received direct access to the whole range of CFT’s current banking solutions and services. We use them to create competitive products for our customers. Thus the transfer to the new CFT banking system provides the technological basis for our bank’s dynamic growth, which is at present moving to a brand new level of growth.”
“Our common project with Monolit Bank is an example of bringing the interest of a financial organization in innovations to practice,” says Andrey Visyaschev, Chairman of the Board of CFT Group. “We will do everything to provide high-quality service for our partner, and the guarantee for it is the high professional level and the necessary expertise and experience of our specialists. We hope that our technologies, software and services will help the bank consolidate its positions in the Russian financial market and keep up with its high business development rate.”

Monolit Commercial Bank
 was established in 1992. The Bank performs activity based on CBRF License No. 1967 of 24.07.1992 and has a CBR license for performance of banking transactions for attraction and placement of precious metals into deposits. Besides, the Bank has exchange intermediary license No. 1443 of 22.09.2009 and licenses of the securities market professional member for performance of broker activity No. 077-12031-100000 of 17.02.2009, dealer activity No. 077-12033-010000 of 17.02.2009 and depositary activity No. 077-12037-000100 of 17.02.2009, and licenses for performance of securities management activity No. 077-12035-001000 of 17.02.2009, issued by the Federal Financial Markets Service. On August 11, 2005 the bank was included into the register of member banks of the system of mandatory deposit insurance of natural persons under number 855. On August 1, 2012 AK&M Rating Agency CJSC assigned to the Bank ‘BB+’ credit rating (national scale, outlook stable).