4 banks in Russia have signed multi-site deal with Forbis to replace its core systems

Vilnius, Lithuania - 24 September 2007

The Company Forbis has signed multi-site deal with ConversGroup banks on FORPOST system implementation in four banks: Joint Stock Commercial Bank INVESTBANK Open-end JSC (Kaliningrad), JSC CONVERSBANK (Moscow), "Grankombank" Inc. (Yekaterinburg), and JSC "Voronezhprombank" (Voronezh). This particularly important project distinguishes by its dimension. Modification of IT platform in four banks is being started joining four banks business processes, juridical procedures, and technologies into one system.

The project remarkable and interesting by the fact that the Company Forbis creates banking systems developing strategy of which essential goal is to concentrate IT infrastructure in one United Bank. Whole set of bank products and subsystems is being prepared for implementation. Each of four banks is oriented to different market segments. JSC CONVERSBANK, specializing in corporation service, is oriented to wholesale services, relating with Forex, Money Market, Securities and other wholesale products. Joint Stock Commercial Bank INVESTBANK, specializing in retail loans and private banking, has wide range of retail banking products. "Grankombank" Inc., one of the leaders of Yekaterinburg card business, needs whole card business products and modules package offered by the Company Forbis.

During incredibly short time, GAP analysis has been performed in order to evaluate gaps between banking system and strategic needs of a bank. While planning implementation jobs, bank specific needs are considered, jobs volume and bank geographical location as well. In this complicated situation, a big advantage is banking information system FORPOST complete adaptability for the local market. Total modification of four banks IT systems joining them into one state-of-the-art functional banking system – serious challenge for the Company Forbis.

Using state-of-the-art informational technologies, United Bank cherishes ambitions to maintain and increase influence in assimilated segments of market – in investment banking and wholesale operations fields, also obtain the preset part of market in private individuals crediting and retail banking fields. Simultaneously widening of banking services network, opening of branches and banking service network are planned in many Russian regions. It is a favourable opportunity for the Company Forbis to re-implement created products such as FORPOST*Branch Automation. While performing this project, the state-of-the-art and efficient information transference channels, like internet banking, ITM, and Self-service equipment, will be implemented.

United Bank is located in several different time zones. This is one more serious challenge for FORPOST system. Time difference, caused by different time zones, is four hours. Considering that fact, special systems modifications, allowing supporting banking information system operation in on-line mode, have been performed.

Rapid and successful implementation of FORPOST system is forecasted because system has already been adapted and meets requirements of the Central Bank of the Russian Federation. It is expected that time for implementation will be shortened using so-called FORPOST extension for Russian market. The system has already supplemented with appropriately parameterized subsystems and products.

Appreciating this important for the Company Forbis event, Chief Executive Officer Andrej Zujev emphasises, ‘No doubt that gained experience, Company’s IT potential, and professional command causes fluent implementation of this large, complex, and strategically complicated project.’

ConversGroup vice-president Vladimir Petrov comments, ‘Actually this situation is unique. We together performed essential preparation jobs: in parallel with GAP analyzing, continual consultations on project launching were held at various levels. Considering system FORPOST using experience – it successfully functions in bank SNORAS, a member of the group – it is evident that this project has big opportunities of stable and timely implementation’.

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