EGAR TECHNOLOGY HAS BECOME A MAJOR INTEGRATOR OF IT SOLUTIONS IN BINBANK IN THE PROJECT OF TRANSITION TO THE ABS “CFT-BANK”

EGAR Technology Company has become a major system and business integrator of the first phase of the project, implemented by BINBANK within the transition to the new automated banking system (ABS) “CFT-Bank”. All the work on application integration and data migration, necessary for the launch of the new platform, was completed in record time of 6 months.

The most important task of the “IT platform for the centralization of back-office functions” project is to unify operational, accounting and management activities of territorial structural units of BINBANK due to the transition to the new banking platform, as well as by modifying and developing integration solutions, covering the entire banking infrastructure. The outcome of the first phase of the project was the launch of a new ABS in the central and 30 additional offices of the Bank.

In the course of the integration work EGAR Technology experts had developed a wide range of services for business operations in the new ABS, as well as for transfer to “CFT-Bank” the information on payment documents, accounts, customers, loan agreements and security deeds. The integration has been carried out in full accordance with the accepted by the Bank SOA-architecture.

The EGAR Technology project team has also carried out a full range of work concerning data migration from the legacy system of issuing loans to the new platform, together with the analysis and optimization of lending business processes and instruments of data upload.

Ilya Kuchugin, Head of the Competence Centre for banking systems at BINBANK, notes: “EGAR Technology experts have successfully combined in their project experience the knowledge of the banking IT infrastructure and integration Oracle technologies with an understanding of the technological features of the “CFT-Bank” platform. Having effectively built communication with other project participants, the company has made a significant contribution to the success of its implementation.”

Alexei Matukin, Head of Systems Integration Department at EGAR Technology, adds: “As one of the largest private banks, BINBANK is playing a significant role in the development of small and medium-sized businesses and retail banking services in Russia. The value of technological component in the achievements of the Bank is constantly growing and is embodied by software in the IT strategy of the financial institution until 2015. Participation in the implementation of these ambitious plans as a technology partner imposes on us not only professional, but also social responsibility, and we are pleased with this opportunity. ”

Integration departments of EGAR Technology provide a range of services in audit, design, development and implementation of integrated solutions on platforms from leading manufacturers in the sphere of IT, including technical support for integration solutions and organization of central monitoring of business operations and IT infrastructure of organizations.

About BINBANK JSC

BINBANK JSC (www.binbank.ru), founded on November 1, 1993, has the general license of the Bank of Russia № 2562. The main owner of the Bank is its president Mikail Osmanovic Shishhanov controlling 98.239% of the shares. Regional sales network of BINBANK has 134 offices, including 29 offices in Moscow. In November 2008 BINBANK within rehabilitation process entered the capital of Bashinvestbank CJSC, sales network of which includes 14 points of sale. BINBANK has the status of Principal Member of VISA and MasterCard payment systems. In December 2004 it was included in the Deposit Insurance System, and in March 2009 – accredited by the status of the agent bank for deposit insurance agencies. The three key areas of the Bank today are: the corporate segment with the focus on the small and medium-sized businesses, the retail segment with the priority on the development of consumer credit and the development of innovative Bank of direct service, initially aimed at working with the credit cards.