Diasoft became the General Partner of the VI Annual Financial Sphere Award for the section "Banks and Payment Services". The company submitted a large-scale project for implementation of its FLEXTERA BI for automation of regulatory reporting in VTB24. At the award ceremony, which took place on 30 March 2017 in Moscow, VTB24 and Diasoft's project was named one of three best implementations in the category "Reporting Solutions".
Rosbank Goes Live on Diasoft FA# Treasury to Ensure its Stable Operation at the Financial Market
Diasoft, the leading provider of modern software solutions for the global financial industry, and Rosbank, one of the 10 systematically important financial institutions of Russia, announced successful completion of the project for implementation of Diasoft FA# Treasury to support the bank's operations at the capital market and its securities transactions.
Rosbank is one of the largest Russian banks that is present in 71 regions of Russia. The bank is included into the Russian list of 10 systematically important financial institutions. It has been consistently developing its universal business model, providing a comprehensive range of bank services to individuals and corporate customers via a wide network of branches and remote service channels. Being part of the international financial group Societe Generale, Rosbank enjoys access to the most advanced bank technologies.
The development strategy of Rosbank for the capital market and securities transactions required implementation of a new enterprise-class solution, capable to integrate into the bank's IT landscape and support the constantly increasing number of front-office transactions of the bank's business unit operating at the capital market and at the market of investment services (CMIB).
To solve these tasks, Rosbank selected the system Diasoft FA# Treasury by Diasoft. Flexible implementation terms, broad functionality and high integration capabilities were the key reasons for the bank's choice.
"An important trigger for our decision to implement Diasoft FA# Treasury was its capability to comply with Statute No.446-P of the Bank of Russia; otherwise, the support of this requirement could cause significant expenses for the bank. In the result of the project, Rosbank obtained a system meeting all modern standards to the IT architecture", underlined Galina Sukhareva, Deputy Head of Operations at Rosbank.
Implementation of Diasoft FA# Treasury in Rosbank was a difficult process due to increasing business requirements of the bank and changing regulations of the Bank of Russia. Nevertheless, the Diasoft team managed to successfully overcome all difficulties.
Implementation of Diasoft FA# Treasury allowed the bank to migrate its brokerage operations, processing of its purchase/sale operations, repurchase transactions for equities and bonds, promissory note transactions and many other functions to a modern IT platform.
Diasoft and Rosbank have approved the program for further enhancement of Diasoft FA# Treasury.
About the Bank: Rosbank is a universal bank, part of Societe Generale Group. The Group’s strategy is focused on improvement of client services and leadership in innovations, capturing growth through business development, increased synergies, and delivery of sustainable performance. Rosbank provides services to 4 million individual customers in 71 regions of Russia. The bank's branch network comprises 400 branches and 2400 ATMs. The Bank of Russia includes Rosbank into the list of systematically important financial institutions. Rosbank has credit ratings from the leading international agencies: Fitch Ratings (BBB-) and Moody’s Investors Service (Ba2). According to Forbes (Forbes, 2016), Rosbank is one of the most reliable banks. In Russia, Rosbank takes the first position in the list of the most expensive brands among foreign financial institutes (Brand Finance, 2016). Rosbank was awarded with the National Banking Award granted by the Association of Russian Banks as a Socially Responsible Bank (December 2016). The bank was also named a bronze medalist in the category "The Best Bank Operating in Trade Finance in Russia and the CIS" (TFR Awards, 2015). Please find more details at www.rosbank.ru/en/
About Diasoft: Since 1991 Diasoft has been providing cutting-edge financial software solutions supporting all aspects of retail, wholesale and universal banking, financial market services, and insurance business. The company’s main offering to the financial market is FLEXTERA — a SOA-based universal system comprising a comprehensive suite of modules for front-to-back automation of modern financial services.
The FLEXTERA’s functional scope covers the following areas of financial business:
· Back Office and Core Insurance/Banking operations including daily banking transactions processing; product and service management; BI, accounting and reporting;
· Multichannel Front Office operations and client management;
· Middle Office risk management and decision making.
The modern technological principles lying at the core of all FLEXTERA solutions in combination with their broadest functionality provide our customers with limitless opportunities for their business development in accord with market trends and clients’ requirements.