SOMBELBANK CHOSE THE EGAR E4 BANKING PLATFORM FOR THE AUTOMATION OF DEPOSITARY SERVICING AND FOR BANK ACCOUNTS SUPPORT

EGAR Technology signed the contract with CJSC “Sombelbank” for the supply and implementation of EGAR E4 Banking system modules for the automation of deposit work, current and charity accounts servicing. The project in Sombelbank has become the first EGAR Technology’s project in the Republic of Belarus.

The solution on the EGAR E4 Banking platform will provide a comprehensive front-to-back automation of bank’s business processes connected with servicing of individuals’ operations with deposits, corporate and charity accounts operation. Currently, preliminary design inquiry, which enabled the changeover directly to system implementation, is accomplished successfully.

First deputy chairman of CJSC “Sombelbank” Tatyana Danilenko marks: “We chose EGAR E4 Banking platform for retail operations automation as a hi-tech and flexible solution, that will allow us to bring on the market new bank products on-the-fly through the whole bank branch network, to guaranty the exact accordance of offered services to the declared conditions and the individual approach to every customer. The system also to the full extent meets a “one window” principle, which Sombelbank uses in its units since the first day of work.”

EGAR Technology CEO Gennadiy Ioffe, adds: “Sombelbank’s branch network covers many cities of Minsk, Brest, Vitebsk, Gomel, Grodno and Mogilev regions and plays a noticeable part in the banking system of the Republic of Belarus. We are satisfied with the opportunity to make our contribution towards the development of Sombelbank’s business, which aspires to offer its client the most topical and demanded products under the conditions of dynamic Belarusian market.”

EGAR E4 Banking platform is implemented in J2EE standarts and SOA-architecture concept. The solution includes the ready-made set of modules, integrated together, which provides a pervasive front-to-back automation of bank’s retail operations while working with credits and deposits, supports operations of corporate bodies crediting, credit risk management, and the collector units activity. EGAR E4 Banking has ready-made interfaces for the majority of Russian ABS.

About the CJSC “Sombelbank”

CJSC “Sombelbank”, a bank with 100% foreign capital, works on Belorussian market since 2004, successfully fulfilling the standards of safe functioning, set by the Belarus republic National bank.

Sombelbank is a part of Getin Holding, the largest East European holding, which runs its business in 5 European countries. Holding’s own equity is estimated to be more than 1 billion Euros, assets – more than 9.5 billion Euros (according to the results of the first quarter of 2010).

Sombelbank actively develops retail financial services and offers a full range of banking services for corporate bodies.