Annual Report 2010

Banking technologies

The main aim of Bank Vozrozhdenie’s work in the area of banking technologies is to develop its business divisions: corporate, retail, finance and bank cards. In addition, the Bank implements projects to streamline its internal infrastructure, including creating a unified information space, making information management more efficient, centralizing and unifying document processing and monitoring banking operations effectively.

In 2010, Bank Vozrozhdenie completed the work to introduce the Integrated Bank System Object (IBSO) and Retail Bank Object (RBO) automated banking systems at all branches. As of today, all branches and the Head Office work in a unified information space containing information about clients, products, accounts and other data. This takes the online management of the Bank’s subdivisions to a whole new level.

The new automated banking systems mean that the Bank’s product range can be managed in a centralized manner. In addition, the RBO system has enabled various resource-intensive daily operations to be transferred from branches to the Head Office. As a result, employees can devote more time to working with individual clients, the services for whom are organized on a “one window” basis.

The priorities for developing banking technologies in 2011 are as follows:

  • Automate processes for evaluating applications and making decisions, including monitoring limits on products carrying credit risk (loans) granted to corporate clients
  • Automate factoring operations
  • Streamline the client base of legal entities
  • Automate transactions involving derivatives
  • Work further on the internet and mobile banking service for individual clients (“V-Bank With You” project)
  • Unify process for retail lending
  • Improve electronic document processing and the electronic archive

Last year, a package of Central Bank standardization documents on information security was brought into force.

An external audit was carried out of the Bank’s adherence to legal requirements regarding processing personal information and to Central Bank information security standards STO BR IBBS-1.0-2010, “Ensuring Information Security of Organizations in the Russian Banking System. General Resolutions”.

Based on the results of the audit, conducted by Informzashchita, the level of information security was rated ‘4’ (on a scale of 0 to 5), which is the level recommendation by the Central Bank for financial institutions in Russia.

At the end of 2010, Bank Vozrozhdenie completed a range of measures to bring its processing system into line with the PCI DSS international security standards for payment cards. As a result of the work, the Bank received a PCI DSS Compliance certificate.


IR contacts

Tel.:  +7 (495) 620 9071
Fax: +7 (495) 620 1953

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