OTP Bank and CFT Group have implemented the next stage of joint IT project  

OTP Bank and CFT Company have successfully finished installation of “Factoring” application complex within the framework of the project of implementation of CFT-Bank core banking system in a credit institution. OTP Bank started to offer factoring services to customers.
“All key businesses of the bank are being gradually transferred to CFT-Bank platform, - says Andrey Visyaschev, Chairman of the Management Board of CFT Group, –Automation of factoring segment is especially interesting and unique for CFT as our partner is highly competent in this issue due to the long and successful experience in providing traditional factoring services. Implementation of “Factoring” application complex completely adapted CFT’s solution to the needs of OTP Bank”.
Now with the newly implemented IT solution and factoring, OTP Bank can provide its clients with accounts receivable financing on the day information on shipment is received, attractive fees, wide range of factoring limits, delivery service with grace period up to 120 days, financing of up to 90% of delivery amount, administrative management of accounts receivables and a lot of other services. OTP Bank provides its clients with e-document management, Internet bank security and acceleration. The service is available to clients in all offices of OTP Bank throughout Russia.