Source: TietoEnator
TietoEnator, the leading European provider of IT solutions, has signed an agreement with Bank Aval, Ukraine, a member of Raiffeisen International Bank Holding group, on providing a solution for upgrading of card system of the Bank.
The card solution of Bank Aval, Ukraine will be upgraded with additional modules of TietoEnator Card Suite (Transmaster). The project will lead to optimization of operational accounting processes and data exchange between card and bank systems, and to additional options for creation of new card products at Bank Aval.
One of components of the solution, which is provided by TietoEnator, is a system for processing of different financial situations, providing of flexible analytical accounting of funds on customers; card accounts and for creating of multiple accounting postings in accordance with accounting rules of the Bank and requirements of the National Bank of Ukraine.
To increase the operational effectiveness and level of automation of data exchange processes between the card system of the Bank and automated banking system, a solution will be implemented for automation of variety of accounting processes of the Bank (settlement with affiliates, settlement with payment systems, settlement with merchants and branches, accounting of income/expenses, etc.).
The flexible software interface for card issuing system, which is provided as a part of the project, is required for better interaction of the card system and other systems of the Bank (data repository, banking systems, etc.).
With the chip card issuing solution, which is provided by TietoEnator, the Bank will be able to modernize already existing processes of emission and accounting of EMV Standard chip card parameters (MasterCard, Visa) to ensure the flexibility of chip card management after the personalization of the cards in complete accordance with the requirements of international payment systems. The Bank will apply this solution to issue both the microprocessor cards with applications of the base product line (VSDC, MChip Lite), and microprocessor cards with the most sophisticated applications of pre-authorization debit: VSDC++, MChip Pre-Autorize Debit).
Implementing of the solution that is provided by TietoEnator, Bank Aval, Ukraine, will optimize its operational processes related to analytical accounting and data exchange, and acquire additional options for creation of new card products at the Bank.