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VTB24 Goes Live With FIS Profile Core Banking Suite

VTB24, a Russia-based retail bank, has gone live with FIS Profile core banking suite from Fidelity National Information Services (FIS), a US-based provider of banking and payments technology solutions.

FIS Profile is being rolled out through a phased program, initially for the bank’s loan business, along with the Profile Direct web-based front end for back office servicing. This will be followed by current account, deposit and credit line products, debit and credit cards.

Dmitry Rudenko, deputy president-chairman of the board of VTB24, said: “Deployment of effective technology is a key element in enabling VTB24 to deliver first-class banking services to current and prospective customers, encompassing high net worth individuals and those in the small business sector. FIS Profile will address the challenges of real-time availability, scalability and improved time to market.”

Mark Davey, executive vice president for international business at FIS, said: “We have been working closely with VTB24 to ensure a smooth transition from the bank’s systems to FIS Profile. This includes integration services to incorporate FIS Profile with the bank’s IT environment architecture, as well as localizing the core system to suit the Russian market. We are also supporting production operations and branch roll-out in line with VTB24’s accelerating growth.”