Reksoft wins Global CIO’s Project of the Year 2014

Reksoft solutions were represented in two Best Solution categories for and emerged as winners in each. Reksoft’s project to create a test suite for VTB Bank 24 was voted Best Communications and Services Solution, and another project aimed at improving the management of the bank’s financial limits also won the award for Most Innovative Solution.

The aim of the test suite project was to prepare test infrastructure for the implementation of tasks and test planned changes to the bank’s information systems. This required the development of schemes within various organizations’ test environments and test loop operating principles, business processes and procedures testing. One of the requirements was to design and deploy a hardware and software system for comprehensive functional testing at a high level of quality and quantity.

The uniqueness of this project lies in the fact that the new test suite simplifies the implementation of new releases of the bank’s information systems, and accelerates the shift to commercial operation. Using project automation to clone test environments significantly reduces the time needed to prepare new test circuits, and consequently makes it possible to implement strategic plans for large-scale implementation of a new IT platform. As a result, VTB Bank 24 has been a pioneer in a very promising area. Reksoft’s solution was the first implementation of this kind of integrated solution in the CIS.

The second winning project was aimed at improving the management of financial limits at VTB Bank. The project involves the creation of a single automated limits control system for the bank to improve and simplify the processing of documents, which is performed by foreign exchange control officials. The ‘Book of Limits’ system provides import and export tools for integration with existing systems within the bank’s divisions and subsidiaries. This allows officials to view all the directories on the type of counterparty limits and to delegate rights to manage different units within the database.

This system is unique because it almost completely excludes the need to process paper documents, significantly increasing the productivity and quality of work of the currency control unit. In addition, the Book of Limits is not limited to local workspaces, which made it possible to perform a significant part of document processing at a regional operations centre. Automatic tracking of document status was implemented for external systems and data storage systems with automatic transfer of information into an ECM system were added to solve the issue of constantly increasing volumes of data. Now, users can quickly find and view important files.

The automated and structured system, with all essential company data contained in the Book of Limits, significantly accelerates operations with financial limits, and thanks to the filtering mechanisms and the search system, has become a vital tool for monitoring operations compliance.

Accepting the awards, Reksoft CEO Alexander Egorov, a board member of RUSSOFT, spoke about the importance of projects implemented by Russian developers:

“One of the most valuable skills that we have acquired in the international market is the capability to perform professionally, systematically and effectively. The responsible way of working, discipline and motivation of our employees have enabled us to move from a high-quality performer to the role of technology consultant for our customers. It means we can support the introduction of innovative technologies at a practical level.

Today, with the restructuring of the Russian IT market and the increasing trend of import substitution, our experience and practices are in high demand on the domestic market. The prospects for our development cannot be overestimated – it would be difficult to find projects of the same scale and complexity as in Russia, because of the size, complexity and structure of our country.

This experience is invaluable to us. The success of our development projects in banking, a particularly demanding sector, shows that we are moving in the right direction.”