AF Bank Replaces 10 Systems with T24 Core Banking
AF Bank, a bank in the Ufa region of Russia, has gone live on Temenos T24 in less than nine months. The rapid implementation has enabled AF Bank to launch T24 in their Ufa head office and five regional branches, including new operations in Moscow, as part of a growth drive throughout Russia. With a focus on the growth in retail and corporate banking markets, the bank aims to become one of the leading banking groups in Russia in the next five years.
“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 while minimising 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,” said Aidar Zubairov, chairman of AF Bank.
The bank deployed T24 in a phased approach, with the system running on IBM servers with a Unix database.