IFS International, Inc. announced that the Savings Bank of The Russian Federation, the largest Russian banking corporation, has licensed IFS’ TPII product for two of its primary regions. The two licenses will manage the SBRF’s network of Automatic Teller Machines and Point of Sale terminals in the St. Petersburg and the Head Office regions around Moscow and is being viewed as a pilot for a national roll-out throughout the Russian Federation.
The Banking Production Centre (BPC), IFS’ authorized distributor in the Russian Federation, is serving as the prime contractor on the project, overseeing the installation and certification of the system. The first of the two systems, operating on Hewlett Packard hardware and driving a network of devices accepting Visa and Europay cards, will be operational within the next few weeks.
Anatoly Loginov, Executive Director of BPC commented, “During the last two years SBRF has enjoyed significant growth in its international payment cards business, particularly in the geographic regions of the Russian Federation where the financial crisis of August 1998 devastated local processors and displaced thousands of cardholders from collapsed local banks onto the solid shores of the State Savings Bank of the Russian Federation. SBRF decided to install TPII in their head-office in order to handle a rapidly increasing number of regional transactions and manage their country-wide ATM network. This decision was based on their long-term experience with TPII at the largest card operation of Moscow Savings Bank who have been using TPII since 1996. A second new TPII license for the regional processing center in St. Petersburg signals that the long awaited rollout of TPII based solutions in regional SBRF banks has finally started. This significant contract is a major endorsement and testimony to the invariable adherence to the chosen principles of cooperation between BPC and IFS in Russia.”
Simon Theobald, President and CEO of IFS International, stated, “The dominant position of the Savings Bank of the Russian Federation in the Russian Payment cards market has been achieved through continued investment in appropriate technology. In beginning this rollout of TPII systems throughout the regional centers of SBRF, the bank has demonstrated that they intend to continue to lead the massive growth in payment cards throughout the country. We are now looking forward to co-operating further with SBRF, adding multi-application chip and magnetic stripe card issuance functionality through our TP-CMS product line.”
IFS International, Inc. and Network Controls International, Inc. are subsidiaries of IFS International Holdings, Inc. which has headquarters in the USA and subsidiary offices in the USA, UK, Singapore, Australia and Germany.
IFS International, Inc. develops, markets and supports software products for the electronic financial market. IFS International’s TPII and TP-CMS products provide support for ATMs, Point of Sale devices, network switches, smart cards and card management. IFS International’s subsidiary, Global Insight Group, is a supplier of strategic business and technical implementation support services to the Retail Finance Industry.
NCI, Inc. develops innovative retail delivery applications like NCI Business Centre(tm), which combines network centric and browser based technologies in “One Application” to automate all delivery channels such as branch teller, platform service, call center, internet banking and customer relationship management.Details