Unistream begins installation of Diasoft's Flextera banking suite

Source: Diasoft

Diasoft and Unistream Commercial Bank successfully completed the first stage of the large scale implementation of FLEXTERA solutions to support the growing volumes of the Bank's money transfer business (UNISTREAM Money Transfer System).

In the beginning of 2012, Unistream Commercial Bank made the decision to replace its aging IT system that did not meet the bank's performance requirements and hampered its strategy for the expansion in the money transfers market. The bank embarked on the implementation of FLEXTERA Financial Architecture solutions, which are built with the use of a 3-tier architecture and SOA principles and are based on the JavaEE platform.

Just in 4 months, Diasoft specialists in tight collaboration with the Bank's IT department launched the new heart of Unistream Commercial Bank. The project was realized within the planned timeline (both for the implementation of the functionality and testing) which was scheduled at the start of this extensive project. Today, the bank operations are successfully supported by the following FLEXTERA components: FLEXTERA Current Accounts, FLEXTERA Current Accounts, FLEXTERA Settlements, FLEXTERA Anti-money Laundering, and FLEXTERA Currency Control.

FLEXTERA Current Accounts enables the management of bank account agreements, document processing, and data files management. The solution fully supports the business volumes of the bank, processing 150,000 to 200,000 payment documents per day. The financial monitoring of the processes documents is ensured by FLEXTERA Anti-money Laundering and FLEXTERA Currency Control.

FLEXTERA Settlements allows the bank to select optimum terms for correspondent / respondent settlements, choose payment rates, find optimum routes, set the method of sending payment documents (standard or with the coverage), and conduct investigations on the payments under unclarified documents. The solution supports settlements via the Payment and Settlement System of the Bank of Russia and via the SWIFT network. It is also integrated with the online banking system for corporate clients.

FLEXTERA General Ledger is a universal accounting system that supports all aspects of financial accounting and ensures quick and effective processing of the financial data of Unistream Commercial Bank. The system impresses with its performance — it processes 300,000 to 400,000 transactions per day (including the transactions received from the Current Accounts system).

"The first stage of the joint project of Diasoft and Unistream Commercial Bank has been successfully completed. Using the high performance components of FLEXTERA Financial Architecture we have already streamlined the bank operations. The legal entities served by Unistream Commercial Bank have been provided with high quality real-time payment services. Within the second stage of the project, which is also going to be very extensive, we are planning to implement FLEXTERA components to support teller transactions and money transfers back office. We are sure that we will easily realize this stage, thanks to the efforts of the united team of the Diasoft specialists and the IT Department of Unistream Commercial Bank", ¬said Igor Fedotov, Vice President for Information Technologies, Unistream Commercial Bank.

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