VTB removes Oracle software and switches to Russian reporting system

2025: Completion of the first stage of the project on the transition of VTB to the Turbo platform

On June 4, 2025, it became known that VTB Bank was abandoning Oracle HFM software and introducing the Russian Turbo platform to prepare consolidated statements in accordance with international financial reporting standards. The bank is implementing a project to import substitution of foreign IT solutions together with Consyst Business Group and FORBES Consulting.

According to the press service of VTB, the first stage of the introduction of the new information system was completed at the end of March 2025. The joint team reproduced a significant part of the processes of the Oracle FDMEE, Oracle BI and Financial Reporting modules based on domestic solutions.

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Фото: Freepik

The new system is built on the Turbo X platform and the Turbo Budgeting information system. The developers created an add-on that supports work with Microsoft Excel and MyOffice, and integrated all the components of the solution with the bank's service services.

The product architecture provides access for both bank and VTB Group employees, taking into account the necessary powers and compliance with information security rules. The system generates more than 180 routine reports and more than 120 reports with the possibility of detailed analysis.

According to VTB, the Turbo platform demonstrates high performance and scalability. The speed of consolidation calculations has increased by more than six times compared to the initial measurements during the implementation phase.

The system implements algorithms for data validation, automatic reconciliation of intra-group transactions, and consolidation. The developers have created a toolkit for ad hoc requests for analyzing financial information.

Head of the Financial Department, Vice President of VTB Natalya Surova noted that the project managed to balance the development of the platform by the vendor with the creation of application software. According to her, the joint team has deep expertise and understanding of the bank's internal processes.

2024: Import Substitution Plan for Automated Long-Term Financial Planning System

T1 Artificial intelligence (part of T1 Holding) will act as a technological partner VTB in the project for to import substitution an automated long-term financial planning system. The IT company will introduce a bank domestic EPM solution "," Turbo Budgeting which will reduce dependence on foreign technologies and optimize financial process management. This was announced by T1 on October 18, 2024.

The project involves the introduction of a modular system with high modernization potential. The perimeter of the system provides for several separate solutions for centralized storage of actual and forecast macro indicators (banking market volumes, foreign economic activity indicators, rates, etc.), preparation of a strategic financial plan with the ability to create scenarios and work with them, as well as storage and processing of data on the banking market of the Russian Federation and individual players.

The domestic banking industry needs innovative and reliable solutions that comply with current trends in the Russian market and regulatory regulations. T1 AI has extensive experience in introducing software products for the financial sector, including in adapting planning, budgeting and reporting consolidation models. This, coupled with the team's specialized technological expertise, will help integrate a flexible and scalable system that will provide the customer with valuable data and improve the quality of management decision-making, said Sergey Golitsyn, Head of T1 at T1 Holding's AI.

The strategy is one of the most difficult objects for automation, since it requires flexibility in calculations to prepare it. The system offered by our partner is not only limited to preparing forecasts of the financial goals of the strategy, but also includes the centralization of data sources - from macroeconomics and the banking sector to individual business indicators. Also, more scenarios can be used in planning, and this provides higher data accuracy and reduces the likelihood of errors. And the second important advantage is that the technology reduces routine operations by using artificial intelligence functions. Ultimately, all these improvements will lead to an increase in the quality of planning, which will allow VTB Bank to more effectively use existing resources and maximize its contribution to the development of the economy, "said Natalya Surova, head of the financial department of VTB Bank.