CFT-Bank has linked 16 branches of the MBRD
The Moscow Bank for Reconstruction and Development and CFT have completed the next phase of the project to incorporate CFT’s system of banking software, CFT-Bank, into the Bank’s technology infrastructure. The head office and 16 branches of this financial institution, one of the 30 largest banks in Russia, have been moved to a centralized system of operations.
The goal of this IT project at the MBRD is to create an IT platform at the Bank, based on the CFT-Bank and CFT-Retail Bank systems, which will have great potential for functional development and be free from limitations on its architecture and scalability, in order to ensure the effective development of the bank’s business.
The project began in January of this year, with the adoption of the CFT-Bank system of banking software. Much has been accomplished since then: 12 functional software systems of CFT-Bank Applications are now running successfully in a commercial setting; the automation of the bank’s business services has been dramatically improved in such areas as cash settlement services, collections, inter-bank and inter-branch settlements, loans, currency conversions, deposits, the rental of safe deposit boxes, bank guarantees, letters of credit, etc.; and an Application suite is currently being installed to facilitate the bank’s stock-market and retail operations. While the CFT software solutions were being installed at the MBRD, some of the bank’s professional employees were studying at the CFT Training Center.
‘Transferring the bank’s entire network of branches over to a centralized core banking system was a significant step for us,’ notes Sergei Shuvalov, the head of the IT division and a vice president at the Moscow Bank for Reconstruction and Development. ‘With an extensive regional network covering 49 cities in the 30 largest Russian regions, the MBRD intends to standardize the business operations of its branches and coordinate the technology used throughout the bank. Our goal is to centralize all our services and business applications as much as possible, allowing us to quickly disseminate new banking products throughout all the bank’s divisions and giving our customers the same opportunities in every region.’
‘We’re currently satisfied with the results achieved. Everything’s proceeding according to plan, and through our joint efforts with our partner we’ll be able to achieve our objectives,’ notes Andrei Visyashchev, the CFT Group’s chairman of the board. ‘Now we’re looking at the next important stage, which is launching the CFT-Retail Bank system in five of the bank’s branches, then in the head office and the remaining 11 branches. We’re confident that in the end the bank will have an IT infrastructure at its disposal that will meet its business objectives as much as possible.’
The Moscow Bank for Reconstruction and Development commercial bank was established on January 29, 1993 (General License No. 2268 from the Bank of Russia for banking operations, issued November 12, 2002). The MBRD is a full-service commercial bank and one of the 30 leading Russian banks. It is the Authorized Bank of the City Government of Moscow. AFK Sistema is MBRD’s primary shareholder. The Bank’s service network includes 49 cities in the 30 largest Russian regions. Relying on its 18 years of experience, the MBRD is developing promisingly and strengthening its position as a full-service bank with modern banking technology and a diversified base of clients. The Bank is currently focusing on its lending operations to the retail and corporate market segments. The Bank holds all the required licenses to carry out banking operations and participates in the deposit insurance system. The Bank’s website is www.mbrr.ru.