The first implementation of RS-Bank v. 5.5 in Tajikistan

Mikrocreditnaya LLC the Arvand deposit institution is universal multifilial financial institution which is included into the three of the best organizations for microcredit in Tajikistan. Arvand renders the credit and deposit services aimed at the development of an entrepreneurship, support of the population of rural regions and needy categories of citizens of the country. Now the credit sphere of the Republic of Tajikistan dynamically develops, and offers of microcredit institution are very demanded in the market.

In March, 2011 MDO Arvand LLC made the decision on acquisition and implementation of a banking system of RS-Bank v. 5.5. R-Style Softlab companies. The software supplier and a product were selected from the course of the tender in which the Russian and western companies took part. RS-Bank v system. 5.5 – a leader of the market in category of solutions for a segment of SMB. Traditionally clients select this software package thanks to its broad functionality, a tirazhnost (assuming support from developer company regarding implementation of requirements of the legislation) and low cost. It is necessary to emphasize that RS-Bank v. 5.5 is open system that gives to the customer the chance to change the purchased software independently, without resorting to the help of developer company.

During implementation of the core banking system in MDO Arvand LLC all products of the line of RS-Bank v were installed. 5.5: Accounting core and also specialized software packages RS-Retail (retail banking services), RS-Loans (credit activity of bank) and RS-Incounting (accounting economic transactions of bank). With their help the organization had an opportunity to quickly create the accounting entries which are displayed in a system core.

The main completions were connected with implementation in RS-Bank v. 5.5 supports of character input of the Tajik alphabet, ensuring communication with a third-party front office system which is used by Arvand, creation of the internal operational reporting upon the demand of the customer, release of the reporting which the organization hands over in National Bank and also ensuring accounting of the attracted loans. Besides, the development team adapted the core banking system to specifics of the Tajik legislation and all features of accounting in the organization.

At the time of start of the project the loan portfolio of Arvand contained about 15 thousand open loan agreements. By the time of its termination volumes were more than 20 thousand loan agreements. One Russian bank has no such large volumes of the loan portfolio from among those who work with RS-Loans v. 5.5, therefore ensuring comfortable system operation demanded enough serious completions.

RS-Bank v implementation. 5.5 in MDO Arvand LLC became the first project of installation of this system in Tajikistan (earlier in the republic only RS-Bank v were implemented. 5.00 and RS-Bank v. 5.1). R-Style Softlab and Arvand already signed the agreement of support, and further cooperation of the organizations will consist in receiving by the customer consultations on an installed system.