CBM Connects to NSD’s Swift Service Bureau

Source: NSD

Credit Bank of Moscow (CBM) has connected to the SWIFT Service Bureau of National Settlement Depository (NSD).

Now, CBM can now access to the global SWIFT network via NSD’s technological infrastructure.

“Supporting the direct connection to SWIFT requires regular investments in our software and hardware, information security and personnel training programs. That is why we decided to use NSD’s services; we will now be able to significantly reduce our IT costs, and at the same time, maintain the high level of transaction reliability and safety,” said Sergey Putyatinsky, Deputy Chairman of the Management Board, CBM.

”We are very happy that CBM has expanded its cooperation with NSD, in particular, in the IT service area. Given the high level of competition in the banking sector and the rapid development of new technologies, the service model for using SWIFT via NSD allows financial institutions not only to minimize their costs but also to focus their own IT resources on strategically important projects,” pointed out Alexander Nam, Managing Director for IT Services, NSD.

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