Originally established in December 1993, Banca Transilvania has its headquarters in the Romanian city of Cluj-Napoca. The bank, a joint-stock company, was founded as a result of an initiative taken by a group of private investors. Currently, a stake of 15% of Banca Transilvaniaâs share capital is held by the European Bank for Reconstruction & Development (EBRD). From a single branch in Cluj-Napoca, which opened in February 1994, Banca Transilvaniaâs operations have expanded throughout Romania and now include 33 branch offices, five agencies and five independent foreign exchange outlets.
Banca Transilvania offers a range of retail, corporate lending and treasury services, focussing primarily on the provision of banking services to small and medium-sized enterprises (SMEs), and was awarded the title of âBest Bank for SMEsâ by the Bucharest Business Week magazine and "The Bank of the Year 2001" by Capital magazine in Romania.
Banca Transilvania is widely regarded as being the leading provider of electronic banking services in the Romanian financial services market. In order to maintain this competitive advantage and further extend the range of services offered, the bank opted to implement Misysâ Fontis solution to provide the electronic banking front-end for its new Bankmaster system supplied by Kindle, another Misys Group subsidiary.
The bank signed the contract for Fontis in December 2001, with the system expected to be running live and fully operational by the end of the first quarter of 2002. Fontis facilitates the delivery of secure banking services directly to the desktops of Banca Transilvaniaâs clients, providing them with 24 hour access to their accounts and a wide range of services. These include statements of account, balance reporting, inter account transfers, third party payments and two-way transmission of instructions and remittance acknowledgements.
Mr. Iosif Pop, President of Banca Transilvania, comments, "We were already in the process of implementing the Bankmaster system, supplied by Kindle, another Misys Group company, so Fontis was the obvious choice to fulfil our client front-end electronic banking requirements. As well as having an existing interface to Bankmaster, Fontis also met all our functional specifications."
"We believe that ultimately, Fontis will have a strategic role to play in assisting us to continue the planned expansion and profitability of our business, by supporting the introduction of new products and improving the range of services offered to clients," he concludes.