The Private Pension Fund NEFTEGARANT to Implement Diasoft Respect Finance

Friday, January 27, 2017

Diasoft, the global provider of cutting-edge solutions for the financial services industry, has completed the GAP-analysis stage of the project for implementation of Diasoft Respect Finance in the private pension fund NEFTEGARANT. The solution will support accounting processes and financial reporting of the company in full compliance with Central Bank statutes for private pension funds.

Within the scope of the project, the current financial system of the Fund will be replaced with software solutions provided by Diasoft. The project will result in automation of the customer's business processes and implementation of the fully-fledged functionality for support of financial, tax and other types of regulatory reporting based on the new statutory chart of accounts.

One of the peculiarities of the implementation stage of the project will the use of the open-source PostgreSQL database in the technological platform meNext, used as a basis for Diasoft Respect Finance. Besides its multiple technological advantages, PostgreSQL is a modern popular database widely used in state and strategic institutions that run enterprise-class database solutions and other IT systems.

The private pension fund NEFTEGARANT provides non-state pension schemes for employees of the Rosneft oil company, as well as for companies form other industries and for retail customers. The Fund is one of the leaders of the Russian market for private pension institutions. According to the Central Bank of Russia, in 2015 it held the 5th place in the list of non-governmental pension funds by its pension reserves and private pension payments. The dynamic growth of the company's financial performance, effective management of pension assets and high risk management standards of NEFTEGARANT have been appraised by the leading rating agencies. 

About Diasoft: Since 1991 Diasoft has been providing cutting-edge financial software solutions supporting all aspects of retail, wholesale and universal banking, financial market services, and insurance business. The company’s main offering to the financial market is FLEXTERA — a SOA-based universal system comprising a comprehensive suite of modules for front-to-back automation of modern financial services.

FLEXTERA’s functional scope covers the following areas of financial business:

  • Back Office and Core Banking operations including daily processing of banking transactions; product and service management; BI, accounting and reporting;
  • Multichannel Front Office operations and customer management;
  • Middle Office risk management and decision making.

 

The modern technological principles lying at the core of all FLEXTERA solutions in combination with their broadest functionality provide our customers with limitless opportunities for their business development in accord with market trends and customer requirements.