News

Ukrainian bank rethinks IT outsourcing

March 29, 2012

OpenWay, a multiregional card management and channel banking software vendor, today announced that Ukraine's Oschadbank has brought its card management and transaction switching in-house using OpenWay's Way4 software. The move is expected to increase efficiency and decrease operating costs for the bank.

Due to Oschadbank's previous third-party setup, it took four different IT systems to process every transaction and back office operations were managed by a variety of software products. OpenWay carried out step-by-step migration to WAY4 from Oschadbank's scattered IT systems, at the same time providing remote access to a single centralized system in the bank's branch network, the company said.

"The role of technological facilities is highly important to the dynamic development of card business and acquiring," said Evgeni Drachko-Yermolenko, Oschadbank's deputy chairman of the board. "The fact that Oschadbank will now work on a single processing platform makes it possible to significantly increase its efficiency. Oschadbank's new processing center will make it possible to implement modern technologies; in the future, the bank plans to introduce banking self-service channels and loyalty programs based on the WAY4 platform."

Mikhail Alexeyev, the director of business development for OpenWay Eastern Europe and Central Asia said that OpenWay completed the main phase of implementing WAY4 at Oschadbank by the end of 2011, including certification in the Visa and MasterCard international payment schemes. He said the bank is now configuring a complete line of new retail products and services, including contactless payments.

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