Pushkino Bank has chosen CFT
Center of Financial Technologies and OAO AB Pushkino have signed a cooperation agreement, in accordance with which CFT is to install its information system, CFT-Bank (Platform 1), at Pushkino Bank. CFT’s affiliate program is another aspect of the growing cooperation between the IT company and the lending institution. Pushkino Bank is now one of CFT’s official Application Developers.
The lending institution’s technology upgrade was needed in order to create an IT infrastructure that could adequately support the Bank’s future development and planned increase in banking services. The adoption of this new technology platform will be a strategically significant step, spurring the lending institution on to even greater success.
Pushkino Bank celebrated its twenty first birthday on August 30, 2011, making it one of the oldest financial institutions in Russia. The Bank has been quite successful in the past and its dynamic growth continues. At the moment, Pushkino Bank has subdivisions in 36 different Russian cities, from Moscow to the Far East. The Bank’s branch network is also expanding. A new branch, the Siberian, opened in Novosibirsk this August. Pushkino Bank branches also operate in Saint-Petersburg and in Ivanteyevka, Moscow region. The Bank provides a wide range of financial products to over 5,000 corporate and 35,000 individual clients.
Using the CFT-Bank information system (Platform 1), Pushkino Bank will be able to achieve new level of automation of its cash-settlement services, management and accounting of its cash transactions, foreign-exchange services, loans, deposits, legally mandated reports, in-house activities, etc. This project will begin with the introduction of a new core banking system at the Bank’s Siberian branch. Later, there will be a transition to a multi-branch plan of operations at the head office, as well as at the Bank’s other branches.
As a CFT Application Developer, the credit institution will be allowed access to all the applications created by the Bank in the CFT testing program (i.e., to automatically verify compatibility with each new version of CFT-Bank) and will receive 70% of the cost of an application if it is purchased by another bank (by way of discounts on the purchase of new CFT licenses and services).
OAO AB Pushkino holds license number 391 of the Russian Central Bank. More than 1,800 legal entities and individuals are the Bank’s stockholders. The Bank focuses on the interests of a diverse range of clients, including small- and medium-sized businesses operating in different industries, as well as many individual clients. The Bank trades on the MICEX currency exchange, uses the SWIFT, VISA, and MasterCard International networks, is a member of the Association of Russian Banks, and has correspondent relations with credit Russian and foreign banks. On December 12, 2005, the Bank was added to the register of bank members of the mandatory deposit insurance system (registration number 942).