Rosbank completed the first stage of transferring the general ledger to the CFT platform

2021: Completion of the first phase of G/L transfer to the CFT platform

On September 14, 2021, Rosbank announced that the first stage of the project for transferring the general ledger (general tender) to the CFT platform had been completed. The next stage will be the installation of another CFT solution - the Accounting Engine class system, designed to be divided into layers of product and accounting of the bank.

The general ledger is the main system of any bank, providing automation of accounting, storage of data on operations in accordance with the rules and requirements of the Bank of Russia accounting.

In the classic IT infrastructure of banks, the implementation of accounting and product accounting, as a rule, is combined in one system, "sharpened" for the sale of a particular product, "said Alexander Taratorin, director of information technology at Rosbank. - Previously, this did not cause difficulties in the maintenance and development of such systems. But when the landscape of infrastructure becomes more complex - there is more and more food accounting in core banking systems. In this situation, accounting logic, strictly regulated by the Bank of Russia, begins to slow down the development of product logic, restrains the constantly growing business requirements for updating and expanding the product line. With an extensive bank structure, this task is even more complicated.

One of the trends in the banking IT sector is the separation of accounting systems into layers. The separation of accounting and product layers allows you to isolate product systems from their unusual accounting functions, accelerate time-to-market at the request of the business, reduce the time to implement changes in the requirements of the Central Bank, IFRS and internal accounting of the bank.

This is the option we chose to update the bank's general ledger. Unloading product systems from the need to adapt products to Russian accounting standards will be a significant competitive advantage for our bank, "said Alexander Taratorin.

{{quote 'Difficulties in centralizing accounting and accounting functions in a complex IT landscape are especially typical for banks, the architecture of which uses the systems of Western vendors, "said Andrei Visyachev, Chairman of the Board of the CFT Group of Companies - The architectural principle of dividing software products into accounting layers allows you to forget about the need to rusticate accounting in the western ABS, use back-office systems exclusively at the product level, and take the accounting function out of the loop. I am sure that the project being implemented at Rosbank in September 2021 will subsequently affect the principles of transforming the IT landscape and business process architecture of many banks operating in the Russian market, especially foreign ones. }}

The separation of product and accounting accounts changes the principle of the bank's accounting system, will allow developing product systems without affecting the processes of obtaining the bank's balance sheet, "said Anastasia Bushueva, chief accountant of Rosbank," We will be able to respond more quickly to changes in the requirements of regulators in terms of accounting, since all its logic will be implemented in one system.

Next, we will introduce another CFT solution - the Accounting Solution class system, the mechanism for transforming business events and their transformation into accounting events - said Rosbank Information Technology Director Alexander Taratorin. - After that, all the product systems of our bank that require reflecting financial the results in accounting will be transferred to an event exchange with the accounting engine. This two-step approach to implementing the general ledger will allow us to reduce risks when updating one of the vital systems of the bank, make the transition to an updated architecture less painful. Well, the pros of architecture are obvious. The separation of accounting and product accounting in the future will give us the opportunity to develop product platforms in all their diversity regardless of the regulatory requirements of accounting, increase the speed of reaction to business requirements, time-to-market with an increase in the complexity and number of banking products, and increase the level of opportunities for further development of the bank's ecosystem.