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February 10, 2010

AF Bank Expands Product Range With Deployment Of Temenos T24

With a strategic focus on the growth in retail and corporate banking markets, AF Bank, a Russia-based bank, has gone live following the deployment of Temenos T24.

By CBR Staff Writer

The bank deployed T24 in a phased approach, with the system running on IBM servers with a Unix database. The implementation has enabled AF Bank to launch T24 in their head office and 5 regional branches, including new operations in Moscow, as part of a growth drive throughout Russia.

Aidar Zubairov, chairman of AF Bank, said: “Replacing 10 systems with T24 has transformed our infrastructure, giving us the functional breadth to expand our product range. Furthermore, we can now offer 24x7x365 services to our retail and corporate client base, a fundamental requirement in banking today.

“Operational integration and business process automation means we can now leverage a single customer view to enhance service quality whilst minimizing IT costs; since running T24 we have generated a significant reduction in cost per transaction. We now have fully built in best practice processes which enable us to be compliant with the regulatory requirements of the Central Bank of Russian Federation and T24’s inherent flexibility means we can quickly adapt to legislative change.”

Keith Stonell, regional director at Temenos, said: “With T24, AF Bank gets the advantage of the world’s leading international banking solution while also delivering specialist local support for the Russian market, including regulatory reporting and accounting. We are pleased to see that T24 is already enabling AF Bank to open new branches and broaden its product and service set, giving it wide reaching appeal as it expands into new markets and increases profitability.”

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