Moscow,
26 July 2005 – Finansbank Russia, the Russian subsidiary of the fifth largest
bank in Turkey by asset size, Finansbank, moved its card-based payment systems
to software from Banksoft, in order to implement its “first class” banking
services. The deal includes software for credit- and debit-card management,
monitoring and management of ATM and POS terminals, ISO-8583 switching and
clearing with international card networks.
Following
the software outsourcing agreement, Banksoft made an assessment of the bank’s
demands and prepared a hardware & software infrastructure to meet and
exceed the market’s and the bank’s needs. The necessary software customizations
were carried out based on these requirements. The devised migration plan
included a data conversion from the previous service provider in order to
provide a smooth transition.
After
the communication infrastructure, the hardware and the system software were
procured by the bank based on Banksoft’s consultancy services, software groups
carried out the prepared plan and the actual migration steps were completed in
a timespan of 6 hours.
“This
is an important step in growing our retail banking segment. We claim to be one
of the most innovative banks in the Russian market, with a growing branch
network and a wide range of service offerings,” said Finansbank Russia
management. “By in-sourcing the card operations and leaving the technology
intensive card-software part to Banksoft, we will be able to better concentrate
on our principal banking services.”
“Today,
with the fall of hardware prices, financial institutions are able to in-source
card operations without experiencing a cost disadvantage. And when they choose
a software partner that is quick to respond to their needs, they are able to
offer new services in the shortest possible time to their customers” said Ismet
Yurtseven, general manager of Banksoft.
About
Banksoft
Istanbul-based Banksoft, is a
leading provider of retail banking solutions. Its solutions includes credit
& debit card management, ATM driving and monitoring, ISO-8583 switching,
POS network management, EBPP and EMV-compliant smart cards. Today, over 11
million credit cards and 20 million debit cards are managed by Banksoft.
The solutions fully support EMV standards and are used by the first European
bank to obtain both Visa and MasterCard certifications (www.emvco.com).