Bank “KEDR” is being transferred to CFT-Bank

Center of Financial Technologies and KEDR CJSC CB have signed a cooperation agreement.
Bank “KEDR” operates in the financial market from 1991. At present, the bank is one of the major credit organizations in the Russian financial system in terms of total assets. “KEDR” is an international level bank with vast area of presence in Russia and abroad.
According to RBC (RosBusinessConsulting) rating, as of the first quarter of 2012 the bank takes the 117th place among 500 Russia’s biggest banks in terms of net assets, and the 8th place in terms of profit growth rate in the rating of Russia’s most profitable banks (according to the National Bank Magazine).
The bank’s strategic plans include retail business development, extension of the services rendered, and integration of advanced technologies for efficient customer servicing. Modernization of the credit organization has arisen due to the necessity to create the IT infrastructure with extended business support, which can reinforce the positions in the domestic financial market.
The bank’s cash management, maintenance and record-keeping of cash transactions, exchange transactions, loans, deposits and many other will move to a new automation level on the basis of CFT-Bank (Platform 1) information complex. The project implementation will start with integration of the core banking system in the Krasnoyarsk branch “Krasnoyarsk Department”.
According to the management of bank “KEDR”, “CFT-Bank is a high-tech product with flexible accounting and reporting opportunities. The new system will automate the banking activity by unifying the database of customers, accounts and branch transactions, optimize and formalize the crediting, decrease the back office costs, offer the customer a more complex approach to cash management. It is also worth mentioning that due to this software complex the bank top management can make quick management decisions having complete online information on the status of all business processes.” 

Bank “KEDR” closed joint-stock company
operates from 1991. General License of the Bank of Russia No. 1574. The bank’s affiliated chain comprises over 120 branches situated in over 30 cities of Russia: in Krasnoyarsk Krai, Republic of Khakassia, Moscow, Saint-Petersburg, Novosibirsk, Vladivostok, Krasnodar, Rostov and Kemerovo Regions. Besides, the Greek branch continues successful operation. In February 2012 the Association of Regional Banks of Russia (Association “Rossiya”) awarded “KEDR” CJSC CB for active participation in the activity of Association “Rossiya”, for successful banking business and on occasion of the Bank’s 20th anniversary. The basis of the bank activity is partnership policy and complex and individual approach to each customer.