SOYUZ Bank, one of the fastest growing universal banks in Russia, is developing all areas of its business to meet increasing demands from its retail, corporate and investment banking customers. Having evaluated several solutions in the market, including one from Infosys, the bank selected Misys because of its many implementation successes in the region, the level of localisation of the solution and the experienced professional services team that are ensuring the project success.
Misys is the longest serving international banking solutions provider in the CIS. Bank SOYUZ will implement its integrated solution comprising the core banking system, Misys Equation, and the latest version of the award-winning trade finance system, Misys Trade Innovation. This solution will enable SOYUZ Bank to support the whole of its universal banking business, significantly reducing operating costs and improving reporting and analytical facilities.
Misys Equation will be the bankâs technological platform for the future, as Vladimir Smirnov, Deputy Chairperson of the Board, comments: âWe are constantly improving the way we deliver results to our customers and we needed a solution that would support our development over the foreseeable future. Misys Equation gives us a solid core platform for the overall IT upgrade we need, coupled with one of the best trade finance solutions available.â
Guy Warren, Executive Vice President and General Manager of Misys Banking comments, âThere has been an explosion of growth in the whole of the Russian banking sector recently. The consumer lending market has grown twice as fast as the corporate loans market with volumes of consumer loans growing by more than twelve times just over the last four years. Financial institutions in the region have benefited from our expertise and solutions for 15 years, as we have helped them expand their businesses and drive value to their customers in retail banking, corporate banking and treasury. Russia and the CIS is a very important market for us as we continue to focus on high growth regions as part of our business strategy. We look forward to continuing to support the Russian economy and adding value to the institutions and citizens in the future.â
Misys has been delivering solutions that drive value to customers in Russia and the CIS since it opened its first Russian office in Moscow in 1992. It has helped many of the regionâs largest and rapidly growing financial institutions build their businesses and deliver results to their customers. During the last 15 years Misys has provided solutions and expertise to clients including VTB, Alfa Bank, Raiffeisen Bank Moscow, International Moscow Bank, AK BARS, Tatfondbank, Kazkommertsbank (Kazakhstan), AVAL Bank (Ukraine), TuranAlem Bank (Kazakhstan), National Bank of Belarus and First Ukrainian International Bank. More than 30 banks now benefit from Misys solutions, including core banking systems, trade finance, treasury and capital markets solutions.