Alfa Bank Moscow has extended its relationship with Misys, a UK-based provider of application software and international banking software, until at least 2020 to expand its operations throughout eastern Russia.
The service from Misys is claimed to enable the bank to serve its retail and corporate customers in the region, increase its market share.
The agreement is the latest in a long partnership between Misys and Alfa Bank, which has seen the two organizations jointly develop Russia-specific features, ensuring the bank complies with The Central Bank of Russia regulations and adheres to the country’s accounting standards.
Sergey Mednov, chief information officer and member of the board from Alfa Bank, said: The extension of the partnership provides us with a secure platform on which to grow our consumer and corporate banking business further. Misys has been a trusted partner of ours for many years and we are confident that we have the right mix of solutions and support to ensure our business grows at minimal risk and maintaining a low total cost of IT ownership.