CB Vzaimodeystvie transfers to CFT-Bank outsourcing

Commercial Bank Vzaimodeystvie (Novosibirsk) and Center of Financial Technologies have finished a project on transfer to outsourcing of CFT-Bank system that is currently used by the financial organization. The banking information complex earlier installed in the bank’s technological facilities has been transferred to CFT data center – the vendor will be supporting the system users, develop and maintain the system, and perform updates according to the legislative requirements.
 
The process of transferring of CFT-Bank to outsourcing lasted two years and went smoothly for the financial organization. “The IT project was implemented unobtrusively for the bank business and did not influence its activity. This was due to well-developed methods and experience gained by CFT specialists in the course of previous outsourcing projects,” says Andrey Visyaschev, Chairman of CFT Board.
 
Bank Vzaimodeystvie has been operating on CFT-Bank since 2008. The management of the financial organization found it economically feasible to transfer the core banking system from insourcing to outsourcing.
 
“Simple calculations show that it is more beneficial for the bank to focus on its core activity and key competencies, and to trust professionals with information handling of business tasks,” says Natalya Maksimova, member of the Board of CB Vzaimodeystvie. “CFT has significant experience in solving information resource maintenance issues, both with software and hardware. The outsourcing model of the core banking system use has given us a single point of the general contractor’s responsibility along the whole life circle of the IT system, and the level and warranties of this responsibility will be recorded in the SLA. We hope that by choosing CFT-Bank outsourcing we have gained technological advantages, like, for instance, the opportunity to quickly create and launch new financial products without any big primary investments. This will allow quickly reacting to fluctuations in the market conditions, if necessary.”