Financial service bank completed automation of depository accounting of the Central Bank

On June 23, 2016 the R-Style Softlab company announced implementation of the module Depositary from the structure of RS-Securities V.6 in Financial service Bank

Project Tasks

The module is intended for conducting depository accounting of the issued and not issued securities in the property of Bank or transferred to it by clients for storage, accounting, broker and other transactions.

Advertizing of Finservice bank, (2013)

Project Progress

The R-Style Softlab company executed an implementation project using technology of the support of the individual RS-ID distribution kits representing creation for bank of an individual distribution kit in which the possibility of installation of the core banking system only with that functionality which is necessary for specific financial institution is implemented. It allowed to reduce labor input of maintenance of a system and to reduce costs of financial institution for its support.

According to terms of reference specialists of R-Style Softlab started technology processing of transactions of depot, having provided to the procedure access to all data of depository accounting which are in the ledger of bank.

The Financial service Bank had a data exchange mechanism about results of trading sessions and a remaining balance of papers with software Beam (an electronic document management system of the National Settlement Depositary (NSD)).

After implementation the employee of depositary can create inventory transaction operations of a session of clearing by clicking of the button, and on nostro - accounts of NSD to execute control of a remaining balance for several seconds.

Project Results

Implementation of the module Depositary assisted in optimization of activities of the customer for maintenance of transactions in financial markets — risk minimizations, the data connected with errors of manual entry in a system, to unloading of the highly-skilled employees responsible for depository operations.

Depositary became the next step in consecutive automation of back office transactions as the strategy of upgrade of IT structure of bank in connection with development of its business. Existence of an individual distribution kit significantly accelerated implementation of necessary functionality and reduced our costs. Matvei Fomichev, chief executive of the Financial service Bank

The first results of application of the new scheme of work with use of a client distribution kit confirmed its main advantage for intra bank communications: RS-ID considerably will accelerate a response of IT department of Bank to needs of business customers as necessary completions of an individual distribution kit are made much quicker, than preparation and installation in Bank of the new drawing version of a system. Such scheme of support will be profitable to financial institutions, especially during force majeur changes of requirements of the regulator. Lev Frenkel, the director of the department of banking software of RS-Bank in R-Style Softlab company