FlexBank has installed CFT Applications for FlexComfort bank card

FlexBank and Center of Financial Technologies have completed installation of a CFT-Bank “Card Module” complex of Applications into FlexBank technological infrastructure to provide IT support for a new bank product – FlexComfort credit card.
 
Within the framework of the partner agreement, CFT Applications have been installed into the Bank’s IT infrastructure to support transactions representing the features of the new bank product - FlexComfort credit card.
 
“The most important issue for FlexBank is convenience and reliability of our products for the customer. Product implementation on CFT-Bank platform is a part of our strategy for creation of IT infrastructure directed at retail market. Our product – FlexComfort credit card with the option of profitable placement and handling of own funds - is attractive for the holder but it is also complex in terms of software. The standard platform for credit card servicing was not enough to provide maximum convenient use of both credit and deposit parts of the functionality of FlexComfort credit card for the customer. So CFT specialists helped us implement a more complex and combined card servicing system,” says Marina Mishuris, Chairman of the Board of FlexBank.
 
In the course of the project, IT specialists of the bank and CFT implementation team performed a large scope of work: alongside with implementation of the “Card Module” complex of CFT Applications, the functionality of the ABS installed in the bank was adjusted to the new card product in respect of deposit transactions, payment card reporting, and interaction with the processing center. In accordance with the Bank requirements, five new CFT Applications have been developed for the new product, FlexBank credit card.
 
Implementation of new modules of the automated banking system provides wide opportunities for the Bank’s further business development, and first of all in the FlexBank priority sphere of remote banking for customers that hold FlexBank credit card.
 
“The joint project of FlexBank and CFT is a good example of how the interest of a financial organization to innovations transfers into practice,” said Andrey Visyaschev, Chariman of the Board of CFT GC. “We enjoy working with partners that search for new ideas and create interesting financial products. And our technological solutions help them bring these ideas to life. The success of such innovative projects depends to a large extent on the orientation of the bank’s business and IT specialists towards achievement of the final result. We are thankful to the FlexBank IT team for the responsible approach to their work, drive for results, and high professionalism. We hope to continue our partnership, and we hope that new IT projects will be created in the same atmosphere of mutual understanding and good cooperation.” 

FlexBank
is a trademark owned by Flexinvest Bank OJSC. Flexinvest Bank is a universal commercial bank, 100% of shares of which belong to Aurora Russia Limited investment foundation (Great Britain).
Flexinvest Bank OJSC today is a dynamically developing high-tech bank directed at offering a full range of financial products and services for natural persons. At present the bank offers credit cards, deposits and mortgage loans. All products are released under the FlexBank trademark. The bank development strategy contemplates improvement of the remote banking sphere. The bank’s technological platform was significantly innovated for this purpose and the structure of the website was changed completely. The customer can now choose a more convenient way to interact with the bank – using modern communication lines, including Internet, or in a convenient office, without haste or queues.
CBRF license No.3089 of 29.09.2008. The Bank is a member of Russian deposit insurance system, member of MasterCard payment system, member of the USS (Unified Settlement System). For more information on Flexinvest Bank go to: www.flexbank.ru