Hamkorbank completed the project of IT audit and development of IT strategy

On March 13, 2017 the OTR company announced project completion of IT audit and development of IT strategy by request of JSB Hamkorbank.

Project Tasks

Foreign investors a bnka (the European shareholders), having estimated the level of development of IT, recommended full IT audit with the subsequent practical use of standards CobIT and ITIL.

For implementation of recommendations of investors and overcoming problems the Bank needed to begin with IT audit:

• reveal compliance of a status of IT to strategic plans territorial and business development of Bank
• create relevant IT strategy for the solution of classical tasks and an output to the market of banking services at change of the regulatory base.

Scheme of IT audit, (2016)

The development strategy IT shall consider the level of the operating technologies for the maximum use of already made investments into the technical park, the server and communication hardware and into application solutions, correspond to the personnel capacity, financial opportunities of Bank and a regulatory framework.

Project Progress

Feature of the project - the specific and changing banking legislation of Uzbekistan, it affects technologies. For example, the systems of the class ABS can be developed, improved and be supported only by national developers. The Russian core banking systems do not correspond to the legislation of the country on accounting, the reporting, payment formats.

The project on IT audit and development of IT strategy began in October, 2016 and came to the end in December, 2016.

Main stages:

• Analysis of the business development strategy. Holding interview. Studying of the basic and auxiliary processes of activity of bank.
• Audit of information systems and technologies of Bank for determination of their compliance of the development strategy.
• Delivery of results of IT audit – auditors fairly tell about all revealed shortcomings and features.
• Development and subsequent presentation of IT strategy. Discussion with bank representatives of the Program of technology retrofitting taking into account recommendations about correction of all revealed shortcomings.

Project Results

In the final document of IT strategy specialists OTR offered detailed recommendations about the main functional areas of IT:

• management of IT,
• applied business systems,
• IT infrastructure
• information security (IS).

The analysis of cybersecurity was carried out separately as an additional task.

The IT service received expanded recommendations as the quality of its work directly influences all projects, and as a result, achievement of strategic objectives by Bank. Some offers OTR on reorganization of structure of IT service are executed during the project.

The program of IT development contains not just a set of the projects which are subject to implementation. This program is balanced on terms, finance and the received results therefore it is broken into phases by years with the advancing development of IT infrastructure for the subsequent support of implementation of the applied systems. OTR is going to execute support and "designer's service" of accomplishment of IT strategy in Hamkorbank. Konstantin Markelov, the associate director on business development of OTR company

The development strategy IT of our Bank is not the just formal document and verified, approved with all business divisions the detailed development plan for IT. Also strategy comprises business justification of investments into IT and gives an opportunity of flexible management by costs due to accurate arrangement of priorities in implementation of these or those tasks. Specialists OTR together with employees of the bank carried out serious and thoughtful work which bears fruit already now. Bakhtiyor Zhurayev, director of the department of operating activities of JSB Hamkorbank