First Ukrainian International Bank (FUIB) has successfully switched to its new core banking system (CBS*). Instead of Midas CBS, which the Bank used for more than a decade, Scrooge III CBS was installed provided by the leading Ukrainian developer Lime Systems. The new CBS is maximally adapted to the Ukraine’s banking system requirements. The new CBS provides the Bank with powerful IT support and broad possibilities of further development and business strategy implementation. Even now the Bank’s customers may feel the advantages from the new CBS: quicker and better customer service. The new CBS significantly reduces the time for development and introduction of new credit, card and other products, ensures quicker financial transactions processing.
As the result of the new CBS implementation the IT structure of FUIB was substantially optimised and operational risks were reduced. The transition of all banking processes to the single new system is still underway, upon its completion over 60 various information systems will be decommissioned.
The project on transition of FUIB to the new CBS has become an event of scale, which launch and testing actually involved the efforts of the whole Bank. The system was commissioned only 10 months after the platform had been chosen, and the experience of other companies shows that projects of such complexity are launched no sooner than in two years.
“FUIB has become more mobile: the time to launch of new products has reduced considerably, and now our customer can spend less time formalising their use of our products. It is of extreme importance that the new CBS reduces our operational risks and significantly saves the Bank’s resources for launching new products and services,” comments Tomasz Wisniewski, Deputy Chairman of the Management Board and Chief Operational Officer of FUIB.* CBS — core banking system. In fact, it is the main computer of the bank, which processes various operations, helps to develop and manage new products, produces the required reports and ensures that the information activity of the bank is within the law.
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