Renaissance Credit Bank Together with Diasoft Launches Its Brokerage Business from Scratch
October 14, 2021
Renaissance Credit and Diasoft announced they have successfully completed the large-scale project for the launch of the brokerage services business at the bank. Now 14 million bank customers and potential investors can easily start investing and trading at the stock market. The whole project was completed within just nine months.
Quick launch of the new line of business at the bank was the result of a large scope of works, including design and development of the solution, implementation of the IT system for support of the bank’s transactions at the financial markets and development of the go-to-market strategy for new products. Due to its vast expertise, Diasoft was selected the technology partner in this project and provided the bank with the required software product – Digital Q.FinancialMarkets.
After thorough analysis of the bank’s IT architecture, Diasoft described business processes used by different business units involved in brokerage services. After this, the company implemented a back-office solution comprising components for support of financial, tax, custody and managerial accounting and reporting.
The bank added the investment function to its mobile application, which allowed the customers to access all types of transactions in securities and currency. The bank also expanded its infrastructure facilities, which ensured fault tolerant support of trading at the MOEX (the Moscow Exchange). Integration of new solutions into the bank’s IT landscape allowed implementing end-to-end STP business processes. Diasoft also developed a special solution based on the microservice architecture to support integration with external systems.
Renaissance Credit now provides the ability to invest to everyone and for any amount – the future investor only needs to open a brokerage or investment account by submitting the application at the bank’s website. The bank’s immediate plans include implementation of robotic search for financial instruments, support of advanced tips on management of the investment portfolio, delivery of convenient access to tax information on the brokerage account and expansion of available financial services.