Comerţbank, S.A. is CFT’s new partner in Moldova

The commercial bank Comerţbank, S.A. and the Center of Financial Technologies have signed a cooperation agreement. In accordance with the agreement, the CFT-Bank information software suite (Platform 1) will be incorporated into the Bank’s technology infrastructure. Comerţbank is the third bank in Moldova to choose CFT’s solutions for technical support of its business.
 
‘We’re proud of the fact that banks in the Republic of Moldova are choosing CFT as their technology partner,’ says Andrei Visyashchev, the CFT Group’s Chairman of the Board, ‘We’re doing everything we can to ensure that our software meets the requirements of credit institutions like Comerţbank, S.A. that operate on a European level. Our Eastern European office has already been operating in Chisinau for over a year, giving CFT professionals an opportunity to be nearby our customers. In the last year we created a distributive version of the CFT-Bank software suite, in accordance with the requirements of the National Bank of Moldova, which allowed us to install our solutions in the republic’s financial institutions as quickly as possible. I am confident that as a result of this upcoming technology upgrade, our new partner, Comertbank S.A., will get an IT product that will provide increased opportunities for further successful development of its business.’
 
Comerţbank, S.A. is a commercial bank that has been operating in the Moldovan market for over 20 years. The Bank focuses on providing corporate banking services, but in recent years Comerţbank has also been active in retail banking.
 
Today, Comerţbank, S.A. is one of the fastest growing banks in Moldova. Comerţbank’s shareholders adopted a development strategy that is providing the Bank with an increasing number of opportunities. For the past six years its shareholders turned all the commercial profit into the Bank’s development, the improvement of its equipment, and the introduction of new information technology.
 
‘The 2011–2012 development strategy for Comerţbank, S.A. envisions a regular expansion of banking services through the use of new professional tools, up-to-date work methods, and an extension of its geographic presence,’ comments Constantine Buruiană, Comerţbank’s IT Director, ‘Information technology is an element of the Bank’s success. In order to offer Bank’s customers an even wider range of modern and advanced financial instruments, we needed a new-generation core banking system.’
 
On the basis of the CFT-Bank software suite (Platform 1), the quality of Comerţbank’s treasury, cash settlement services, cash transactions and accounting, foreign exchange services, loans, deposits, and mandatory reports to the National Bank of Moldova will significantly improve.
 
Before launching the project, the Bank conducted a front end engineering development, and now the work has begun on the first stage of implementing the CFT-Bank System (Platform 1).