Sovcombank automated operations with precious metals with the support of Diasoft

2025: Automation of Precious Metals Operations

Sovcombank and Diasoft on March 11, 2025 announced the completion of a project to automate business processes for operations in the over-the-counter precious metals market. As a result of the project implementation, back-office business processes, accounting and internal accounting of operations with precious metals were automated, as well as the provision of data on transactions with precious metals to GIIS DMDK.

The project was implemented in several stages. At the first stage of the project, business processes for the purchase and sale of ingots with individuals and legal entities were automated, and data on transactions with precious metals were provided to GIIS DMDK, namely: turnover in the territory of the Russian Federation for transactions selling ingots to banks, legal entities, individual entrepreneurs; withdrawal from circulation for the sale of ingots to individuals; putting into circulation the purchase of ingots from individuals. At the second stage of the project, business processes for the purchase of precious metals from subsoil users were automated.

At the third stage of the project, business processes were automated for such operations as:

• transactions for the purchase and sale of ingots with individual entrepreneurs;
• transactions for the purchase and sale of ingots with banks;
• commission transactions for the sale of ingots;
• sending ingots for remelting;
• movement of ingots between bank storages;
• transactions for the purchase and sale of precious metals in an impersonal form.

When automating business processes, software products from Diasoft included in the Dealer Operations solution were used: OTC Physical Metal Purchase and Sale Transactions, Metal Purchase Transactions from Subsoil Users, Accounting for Precious Metal Purchase and Sale Transactions and Precious Metal Storage.

Within the framework of the project, the task was to automate most operations with Sovcombank bars with the Bank of Russia, gold mining companies, refining plants, Gokhran, banks, jewelry companies, individuals. At the same time, it was necessary to ensure the implementation of Government Decree No. 270-P, which obliges banks to transfer data on transactions with precious metal ingots to GIS DMDK from March 1, 2023. Thanks to the high involvement of the project team both on the part of Diasoft and on the part of the bank, it was possible to successfully implement the project on time, "said Alexey Kurochkin, head of the product department" Dealer operations in the money, currency and derivatives markets "of Diasoft.

{{quote 'In 2024, we entered the top 3 market of participants in transactions with precious metals, this result was achieved, among other things, due to the automation of business processes. Automation of back-office support and accounting for operations with ingots made it possible to eliminate errors in the execution of business processes and reduce their cost, and also doubled the speed of processing operations. Data transfer to GIS DMDMK is carried out in a timely manner, which guarantees compliance with the requirements of the regulator, - said Albert Boris, Deputy Chairman of the Board of Sovcombank. }}

The partners plan to further develop cooperation, in particular, to solve new business tasks for operations with ingots in the over-the-counter market of precious metals.

2021: Phase One Completed

and Sovcombank Diasoft"" are implementing a large-scale multi-stage project - the transfer of functionality for working bank in the financial markets to a business development platform. Digital Q.FinancialMarkets Diasoft announced this on July 19, 2021. The platform includes a large number of ready-made functional components implemented in a microservice architecture. This will allow Sovcombank to implement plans for significant business growth in the financial markets, taking into account the time-to-market.

For Sovcombank, the important conditions of the project were to ensure the rapid launch of new products and timely support for legislative changes. The platform should ensure uninterrupted processing of operations in financial markets. The team of a potential technological partner was expected to have a high expertise that allows building optimal technological business processes. The choice was made in favor of Diasoft, which met the stated requirements.

At the first of the three planned stages of the project, the partners jointly automated about ten business areas of Sovcombank in terms of accounting for their own operations (back-office accounting). Among them are the issue of their own bonds, the purchase and sale of securities on the exchange and over-the-counter markets, the calculation of income tax and depositary accounting. Also, Sovcombank on the Digital Q.FinancialMarkets platform supported the functionality of automatic processing of trading operations with securities on the St. Petersburg Stock Exchange, work with the National Settlement Depository and the Euroclear system.

The result of the first stage of the project was a multiple reduction in the processing time of the operating day. Fast adaptability to the implemented financial instruments is also implemented - the configuration of non-standard products takes place in Sovcombank within 2-3 days, allowing you to launch new lines of business in a short time.

The introduction of the Digital Q.FinancialMarkets business development platform will allow Sovcombank to carry out continuous updates of software products without stopping business. The IT solutions you use will have high performance and linear scalability to support the growing volume of transactions and processing data; microservices also guarantee the reliability of IT systems for uninterrupted access to bank products and services.

According to strategic plans for the development of business in the financial markets, Sovcombank is actively increasing volumes in terms of securities and brokerage services. To support the growing business, we are gradually introducing a technological solution that will increase the speed of processing all operations in the financial markets and will allow us to quickly comply with the requirements of the legislation, "says Albert Boris, Deputy Chairman of the Board of PJSC Sovcombank.

We expect that following the results of all stages of the project, Sovcombank and its subsidiaries will operate on a single platform for processing operations in financial markets, and the result of the consolidation of accounting for the Sovcombank group will be the most prompt closing of reporting periods and preparation of reporting. The platform that we are introducing in Sovcombank will serve as a reliable foundation for these changes, as well as for further increasing the functionality and volume of the bank's operations, - comments Kirill Zolotykh, member of the board, director of the Financial Markets department at Diasoft.

2020: Start of bank automation in financial markets

Sovcombank and Diasoft on July 23, 2020 announced the launch of a project to automate the bank's work in the financial markets. In 10 months, the partners plan to introduce more than 10 software products of the Diasoft Digital Q Financial Markets business development platform. As a result, Sovcombank and its subsidiaries will switch to work in a single database, which will allow consolidating accounting for financial markets throughout the Sovcombank group.

The partners plan to jointly automate the directions of the Sovcombank group's work in terms of accounting for their own operations (back-office accounting), namely: issuing their own bonds, buying and selling securities on the exchange and over-the-counter markets, bill accounting, calculating income tax, depository work, etc. Among other things, the processes for preparing mandatory reporting will be supported.

The introduction of an industrial solution from Diasoft will provide the Sovcombank group with opportunities to implement strategic plans for business development in the financial markets.