Turaz

The headquarters of Turaz is in London, and representative offices are located in many countries of the world.

About 25 leading banks of Russia already use this software for risk management and control of limits among which there are JSC ALFA-BANK, JSC St. Petersburg Bank, JSC Bank ZENIT.

One of top trends in the Russian bank industry, according to representatives of Turaz, is the increasing need for automation of a back office.

Boris Lipiainen, the head of division of product development of Turaz, notes: "Ten years ago our clients from Russia generally concentrated efforts on implementation of technologies which were necessary for improving competitiveness from the front office. Today, while the front - and middle office remain in a priority, understanding of what advantages our software for automation of a back office can bring grows. Banks aim to lower costs in terms of one trade operation and to raise extent of use of end-to-end transaction processing, but also want to use the best available tools for processing of more difficult financial transactions, especially in the light of increase in demand for the innovation structured products. We already participate in a number of projects of automation of a back office and we expect the further growth of this segmentabusiness".

History

2012

Merge to Misys

In June, 2012 the Misys company, after completion of acquisition by private investment firm Vista Equity Partners, was merged into Turaz company. Read more here.

Expansion of the Russian office

The Turaz company expanded the Russian office, having increased the number of salaried employees by 30% and also organized the special training program for probationers from the best technical and financial colleges of Russia. Five graduates to whom an opportunity to work in Turaz company after the termination of the university as business of the company continues to grow in Russia will be provided are involved in this program.

Acquisition by Vista Equity Partners company

In January, 2012 the Turaz company was purchased at Thomson Reuters by Vista Equity Partners company for the purpose of the subsequent consolidation with Misys company.