Tatsotsbank taps Compass Plus for payment processing centre

Source: Compass Plus

Compass Plus, the global payments software provider, today announced the rapid implementation of its fully integrated TranzWare product suite at Tatsotsbank, based in Tatarstan (Russian Federation), to run the bank's new processing centre.

The processing centre, which was implemented and went live in under four months, has allowed Tatsotsbank to meet new business objectives following a change of ownership.

In July 2010, the Tatsotsbank's new shareholders made it a priority to implement payroll programs and provide a complete range of banking services to employees from the group of corporate customers that had moved their business to Tatsotsbank. To meet this objective Tatsotsbank had to develop its own processing centre as quickly as possible.

Tatsotsbank selected Compass Plus' TranzWare products as the basis for this new processing centre. In August 2010, Compass Plus delivered an integrated software suite including TranzWare Online, TranzWare Card Management System and TranzWare Internet Banking. The suite has allowed Tatsotsbank to implement card line, deposit and credit products, as well as to enable access to them via remote service channels.

By December the bank had launched the new processing centre based on Compass Plus' software. For a project of this size, the speed of implementation far exceeded the industry standard.

"Compass Plus not only offered a complete solution that met our requirements, but also ensured the shortest implementation time which is just as important to us. We signed contracts in August and already had our first cards issued by 1st December. Compass Plus has dealt successfully with this task and we are now working together to extend the product line in order to offer our customers deposit products and Internet banking," said Dmitry Kuznetsov, Deputy Chairman of the Board of Tatsotsbank.

Filipe Dos Santos, Regional Sales Director for Europe, Compass Plus commented: "Tatsotsbank needed to address new customer requirements quickly and efficiently. Our primary goal as an organisation is to help build and quickly deploy comprehensive, integrated payment technologies that address customer requirements. Compass Plus has a history of exceeding client expectations. Providing a complete software suite for a brand new processing centre in less than four months - from initial engagement to go-live - is another significant achievement."

Three products were carefully selected from the Compass Plus TranzWare product suite to meet Tatsotsbank's urgent requirements:
• TranzWare Online - Provides the ability to switch, route, authorise, drive and monitor an unlimited number of terminal devices and handle multiple delivery channels on a single platform.
• TranzWare Card Management System - Enables the efficient operation and management of card issuance and lifecycle, bank and merchant acquiring.
• TranzWare Internet Banking - Provides an array of options helping to establish a flexible, fully adaptive Internet banking system.

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