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Moscow-based ZAO Raiffeisenbank, a subsidiary of the Austrian RZB Group, is implementing the Misys Midas Plus 1.4 core banking solution to deal with a significant rise in retail banking activity, increase efficiency, and improve the robustness and reliability of its operation across 230 branches. Eurasian Bank in Kazakhstan is also overhauling its core banking by introducing Callatay & Wouters Thaler solution
Moscow-based ZAO Raiffeisenbank, a subsidiary of the Austrian RZB Group, is implementing the Misys Midas Plus 1.4 core banking solution to deal with a significant rise in retail banking activity, increase efficiency, and improve the robustness and reliability of its operation across 230 branches.
Raiffeisenbank is the ninth largest bank in Russia and continues to grow since its launch in 1996. The new Misys core banking software solution installed at the bank is flexible enough to scale, which was one of the key reasons for its selection as the firm intends to open new branches and increase the volume of its transactions in the near future. As the chief operating officer of Raiffeisenbank, Mr Schoefboeck, explains the bank had a strong need to migrate to Midas Plus 1.4 as quickly as possible. “We were looking for a new system platform to support our future growth. Thanks to the strong team formed between ourselves and Misys the migration is is going smoothly.”
• In other news, another bank in the east is also overhauling its core banking. Kazakhstan-based Eurasian Bank is installing Callatay & Wouters Thaler system to support its retail activities. To be installed by local partner R-Style Softlab, the system will manage deposits, loans and payments across 18 branches and 40 offices in the country.
The local vendor’s RS-Bank V.6 software will be responsible for the general ledger and reporting aspects of the bank’s operation, to mitigate any risks that could arise from using a western system in Kazakhstan’s banking market, with its specific laws and tax requirements. Both systems will be closely integrated. This combination of a local contractor with an in-depth understanding of the CIS banking market and Callatay & Wouters international credentials contributed to Eurasian Bank’s decision to opt for the Thaler installation.
The new core banking system at the bank will be rolled out in two phrases, with the introduction of most of the back-office functionality scheduled for this December, with the Thaler B2N module, for the bank’s branch network, due to go live in May next year.
Commenting on the project, Larisa Kolesnichenko, CIO at Eurasian Bank, said: “By installing Thaler, we will have extra retail functionality enabling us not only to provide additional services and broaden our customer base, but also to compete cross-border. Furthermore, the implementation done by R-Style Softlab combined with the expertise of Callatay & Wouters gives us the confidence that we are gaining an internationally recognised system that can also handle our local requirements. This is crucial to us.”
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