The Uralsib bank prepares start of the single automated banking system

The URALSIB bank and Infosys company signed a document package on development and maintenance of the single the automated banking system (ABS) of Finacle, the press service of the company reported on October 16, 2012.

Start

The choice of the core banking system Finacle of production Infosys as a single system is made by experts of URALSIB bank on the basis of results of contrastive analysis of parameters of a system. Among qualifying standards there were performance, completeness of functionality, a system capability for support of the operating level and rates of development of bank, business process reengineering volume in the course of implementation, customizability and also such parameters as specialization, value and stability of the company of the supplier, existence of a consulting component of the company.

Objectives

Project implementation of creation of the uniform core banking system on the Finacle platform will allow to provide standardization and unification of back office business processes, uninterrupted operation and reliability of the centralized bank services, to minimize operational risks, to reduce the average cost of transactions. Optimization of bank processes will increase efficiency and controllability of business.

After implementation of the advanced platform the possibility of preparation of operational collecting of the management reporting in the IFRS form for providing information to shareholders and potential investors will appear.

Besides, it is expected that technology support of a system will help with fast adaptation of all types of banking products and business processes in the conditions of constantly changing market situation, involves all channels of work with clients in convenient format 24x7x365, will accelerate decision making without loss of quality and will provide profitability to business.

Pilot

Pilot implementation of Finacle took place in the Ekaterinburg bank branch. Now Infosys makes completion of a system then together with bank will start preparation of "release of standard branch". Commissioning of new release of the uniform core banking system is planned for January, 2013. The final stage of system implementation will pass in head office of bank in Moscow.

"Implementation of the advanced international technologies will allow URALSIB bank to create the modern IT platform and to provide clients with additional conveniences of financial services", – Ilya Filatov, the vice chairman of the board of URALSIB bank noted.

"We are glad to the solution of URALSIB bank to make Finacle the integrating platform for conversion of a banking automated system. As the technology partner, we aim to support URALSIB bank in development of its business directed to providing high-quality service and the innovation products for the clients – Amit Dua, the head of the region of EBVA and the vice president of company Finacle, Infosys Ltd emphasized.