CFT is in TOP-5 major banking software vendors

CNews Analytics (CAN)[1] has published the annual analytical review “IT in banks and insurance companies 2012”. The analysts have presented the results of the research of Russian IT market for the financial sector in 2011 and the annual Top-50 major banking software vendors.
According to the rating “Major banking IT vendors 2012” prepared within the framework of the review, Center of Financial Technologies is again in TOP-5 major banking IT vendors. In terms of “Revenue from projects in the banking sector” CFT takes the first place among Russian software developers for the financial sector.
The revenue of CFT Group from projects in the financial sector in 2011 made 7,815,609 thousand rubles (the total revenue of the group made 9,074,200 thousand rubles; structure by branches: 86.13% - financial organizations, 0.3% - public sector, 11.88% - trade, 1.69% - transport).
According to expert estimates, in 2011 Russian banks significantly increased the expenses on information technologies. Some of them not only reached the pre-crisis level of their IT budgets but even exceeded it. Thus, according to TASS-Telecom, the total expenses of the hundred biggest Russian banks on IT and telecom solutions in 2011 grew by 16.7% as compared to 2010 and reached 25.679 billion rubles. Thus the IT budgets of 77 of these 100 banks have grown, above all the investments in informatization of Svyaznoy and Rossiya banks have grown – by 456% and 98%. It is also seen in the double growth of the remote banking market in 2011 – according to some estimates, over 14 million customers use such services.
CIOs of credit organizations have also been interviewed on their opinion about priority banking technologies within the framework of the review. Among the most important technologies the IT directors named: analytics and business analytics technologies, mobile technologies, cloud computing (SaaS, IaaS, PaaS).
Experts forecast that by the end of 2016 half of major banks will store important information not on their own servers but in data processing centers of external providers, which will allow cutting down IT expenses.
Andrey Fomichev, Deputy Chairman of the Board of CFT Group, who participated in preparation of the analytical review “IT in banks and insurance companies 2012” as an expert, says, “CFT smoothly transfers the CFT-Bank system used by partner banks to outsourcing. We have long been rendering CFT-Bank support and development services. At first banks used to outsource software as well as hardware and certain business directions, such as retail for example. And then pioneer banks appeared which bravely decided to outsource the core banking system. At present their number is constantly growing.”

[1] CNews Analytics Agency (CNA) separated as an independent direction in 2002 and is now member of the RBC group of companies. During several years the agency specialists implemented over 100 analytical projects devoted to information technology (IT) and telecommunication market research.