“VENETS” BANK CHOSE EGAR E4 BANKING PLATFORM FOR THE AUTOMATION OF CREDITING FRONT-OFFICE

“VENETS” BANK CHOSE EGAR E4 BANKING PLATFORM FOR THE AUTOMATION OF CREDITING FRONT-OFFICE

EGAR Technology has won a tender for the provision of the solution for automation of crediting front-office of CJSC “Venets” bank. Hi-tech solution on the SOA-platform EGAR E4 Banking of the automation of a wide range of business processes and applications integration to full extent meets the bank’s requirements according to the branch network expansion strategy.

The aim of the project is the automation of crediting products sales, including plastic cards, through bank offices as well as through remote sales outlets and partners, who act as mortgage advisers. It is planned to integrate a set solution with common processes of pre-credit processing and back-office credit accounting and credit cards during the project, to provide a possibility of crediting risks reduction through the implementation of credit ratings instruments and to realize the possibility of loan commitments monitoring.

The first stage of the project, which suggests a preliminary inquiry and preparation of the requirements specification, is currently finished. The implementation of the system will start in the nearest future.

Michael Kirsanov, Deputy Chairman of “Venets”, marks: “We chose EGAR E4 Banking platform for the automation of crediting business processes as the most flexible and practical solution, which can dynamically increase its functionality under conditions of active development of bank’s business and its organizational structure.”

EGAR Technology CEO Gennadiy Ioffe comments: “EGAR E4 Banking platform’s flexibility and reliability is proved by more than five-year experience of its exploitation in favour of Russian financial organizations of various business scale and specialization pattern. “Venets” is a noticeable player on the region market and we are ready to support ambitious plans of its development with satisfaction.”

EGAR E4 Banking platform is implemented in J2EE standards and SOA-architecture concept. The solution includes the ready-made set of modules, integrated together, which provides a pervasive front-to-back automation of bank’s retail operations while working with credits and deposits, supports operations of corporate bodies crediting, credit risk management, and the collector units activity. EGAR E4 Banking has ready-made interfaces for the majority of Russian ABS.

About the “Venets” bank

CJSC “Venets” bank (the license of the Central Bank of the Russian Federation No. 524 dating 26.09.2002) is one of the four regional banks of Ulyanovsk region, founded in 1990 on the basis of “Promstroybank of USSR”.

Currently, bank has open two branches in cities Barysh and Inza in the Ulyanovsk region and eight additional offices: in Zavolzhski, Zheleznodorozhnyy and Leninsky regions of Ulyanovsk in the industrial communities of Karsun, Nikolaevka and Dimitrovgrad. The further bank’s branch network expansion is planned by the direction.

CJSC “Venets” is a laureate of “Banking industry” annual award in the “Best regional bank” category and also has a “Regional bank – the partner of Ulyanovsk region administration” status.

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