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Andrej Zujev
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BIS FORPOST launched into operation in AS Sampo Banka (Latvia)

VILNIUS, May 2006/Forbis Ltd. – the Forbis Company has successfully completed the first stage of the Banking Information System FORPOST implementation project at the AS Sampo Banka (Latvia)

The Forbis Company continues successful cooperation with the SAMPO financial group: in May this year the Banking Information System FORPOST has been launched into operation at the AS Sampo Banka (Latvia).

SAMPO, one of the largest financial groups based in Finland, operates in the area of traditional banking. Banks of the SAMPO group operate in Lithuania, Latvia, Estonia, Finland and other Scandinavian countries; the group also starts entering the Russian market.

All activities related to the implementation of BIS FORPOST in the bank are carried out according to the agreement concluded by the Forbis Company and AS Sampo Banka in autumn 2005. Experts of the Forbis Company installed and parameterised the system kernel and the main banking products, including management systems for cash operations, deposits, loans, international and national payments; all products have been adjusted to the requirements of Latvian banks. Important preparatory system administration activities have been carried out in order to ensure smooth operation of the installed banking products. Active co-operation with the rapidly growing SAMPO commercial bank of Lithuania and acquiring its best experience enabled to efficiently implement a new system in Latvia.

In order to ensure correct transition of data, the FORPOST Banking Information System has been operated simultaneously with the old system for a certain time before it was launched into commercial operation.

At the same time experienced specialists of Forbis conducted series of trainings for the bank personnel.

The first stage, crucial to the banking information system implementation project, is successfully completed. All project activities have been performed in productive cooperation between the specialists of Forbis and AS Sampo Banka. Presently, activities of further development of the BIS FORPOST are being commenced, focused on implementation of additional banking products and subsystems.

Specialists of the Forbis Company comprehensively analyse requirements presented by the bank, and make adjustments and modifications to the system, thus improving and preparing it for being operated in Latvia.

According to the Chairman of the Board of the Latvian AS Sampo Banka I. Grasis, “Successful completion of the first stage of the ABS FORPOST implementation will enable the bank to continue the fast growth in Latvia. Acting in a new system ensures us with the great possibility to provide new products which are currently crucial for our customers: Internet banking, new saving products, wider choice of loan and payment card products.”

In his turn, Mr. Andrej Zujev, CEO of the Forbis Company stated: “The Forbis Company will further strive to successfully complete the entire project of BIS FORPOST implementation and looks forward to continuing and expanding cooperation with the SAMPO group”.