Rosbank, Part of the Societe General Group, and Diasoft Named Finalists of the Global Banking Tech Awards 2021
October 19, 2021
The joint project of Rosbank, part of the Societe General Group, and Diasoft has been named finalist of the global Banking Tech Awards 2021 in the category “Best Use of IT for Lending”. The large-scale IT transformation project “Core Engine for Loans and Deposits” (CELD) based on Diasoft’s digital solutions allowed the bank to fully move its corporate lending business processes into the digital environment. The prestigious award highlights global technology projects in the lending space, which have resulted in tangible benefits for the end-user and the organization, brought clear improvements, increased the organization’s efficiency and competitiveness, and are commercially viable.
Rosbank’s strategy focuses on continuous improvement of its customer services through implementation of innovative IT solutions and services. The bank has been implementing a large-scale IT transformation program, which includes migration from the legacy monolithic system and implementation of independent flexible solutions based on modern technologies for support of separate LOBs.
Replacement of the core system for corporate and business lending is an important stage of the bank’s overall IT transformation. The new corporate platform – Digital Q.Corporate by Diasoft – has been rolled out to the whole bank branch network in Russia.
The project milestones included migration of products and contracts from the legacy Misys system, integration with internal bank systems (CRM, Core Banking, front office), separation of product and financial accounting, and acceleration of such business processes as creation and launch of new credit products, support of individual credit offers, implementation of innovative business functions. The solution provided a reliable platform for the further development of the corporate business.
“The new core system provided us with flexibility to streamline our corporate lending business processes and reduce TTM for new products. The functional capabilities and technological features of the Digital Q.Corporate platform created a reliable basis for effective expansion of our corporate banking business”, comments Kirill Pokladov, Director of the IT Department of the Corporate, Investment and Custody Business at Rosbank.
“Implementation of microservice technologies in the bank Back Office is an important technological innovation, new for the market. This architectural approach provides such technological advantages as scalability and reliability, flexible replacement of components, their independent enhancement and development. As a result, the bank obtained a modern platform which enabled technological and business transformation of its corporate banking business”, Leonid Khorevsky, Member of the Management Board, Head of Operations Management Solutions at Diasoft.
More information on the award is available at: https://informaconnect.com/banking-tech-awards/