FinComBank S.A. (Moldova) will automate reporting using CFT solution
Implementation of CFT solution for automation of statutory reporting has been finished at FinComBank S.A. (Moldova). The implementation was completed by joint efforts of the Bank’s team and CFT employees within four months, precisely as stipulated by the plan of the project.
The Bank's statutory reporting automation project has become a landmark not only for CFT, but for IT market in the financial sector of the Republic as a whole. The reporting software completely adjusted to requirements of the National Bank of Moldova was first installed at Universalbank S.A. with the Bank actively involved in forming requirements to the functionality of the system. Presently, three Moldovan banks have successfully automated statutory reporting using CFT solution.
FinComBank S.A. is one of the leading universal commercial banks of the Republic of Moldova. The Bank renders a wide range of corporate and investment banking services to residents and non-residents. The Bank’s customers include individuals, small and medium enterprises, as well as major companies representing all the main sectors of Moldovan economy. The Bank’s branch network includes 15 branches and 29 agencies located throughout the Republic. Main activities of the Bank are automated on the basis of CFT-Bank information software (Platform 1). FinComBank S.A. is also an active member of the Golden Crown—Money Transfer system. Presently, the next stage of implementation is being prepared at FinComBank S.A. CFT product will be used by the Bank to automate IFRS reporting.
(FinComBank S.A. was established in July 1993 as a joint-stock company. The Bank holds License No. 004460 issued by the National Bank of Moldova. At present, the Bank has 135 shareholders, 628 employees and over 108 thousand clients. FinComBank has always been a pioneer in introducing new products and services. It cooperates with international financial organizations (the World Bank, International Fund for Agricultural Development (IFAD), US Agency for International Development (USAID), European Fund for Southeast Europe (EFSE), Overseas Private Investment Corporation (OPIC), etc.).