National Reserve Bank (NRB) has selected BPC Banking Technologies to provide an end-to-end in-house electronic funds transfer (EFT) payment processing solution. It took only five months to develop and implement new platform in the bank’s processing centres, manage the migration from the legacy system, pass all certifications with Visa and complete the training of the bank’s operational staff.
Following a competitive bid process SmartVista won the deal for most exactly meeting NRB’s requirements as a highly functional, flexible and scalable solution. The bank decided to move from an outsourced model to a modern Open System in-house processing solution to manage its ambitious growth plans for its payment’s business, to improve its speed to market, lower the total cost of ownership (TCO) and gain direct control over a strategic line of business. The solution runs the bank’s processing and personalisation centres in Moscow, covering the Moscow region and Voronezh, covering the rest of Russia. The processing centres will now handle all card management, card personalisation, switching and authorisation, and ATM management.
“The constraints of our original payments infrastructure would not have managed our aggressive growth plans to increase our card base significantly and to expand the range of payment services to our customers. We took the decision to assume direct control over our payments business and have been very pleased with our choice of SmartVista and BPC’s ability to implement the new solution quickly and seamlessly,” said Oksana Pogodina, deputy chairman of the board, NRB.
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