Nevertheless, ‘there was a huge list of things in Profile that had to be adapted’, mainly on the accounting and reporting sides. He claimed that Profile went live in July 2007 (a few months later than originally scheduled), with additional product support functionality then moved from Diasoft to Profile. FIS’s specialist team continued working onsite as part of the handover process and Tischendorf described the vendor’s work as ‘quite quick and efficient’. However, in 2007 the bank gained a new project team. Zhanna Schennikova came in as SVP for operations, IT and customer service. She was critical of the implementation’s state-of-play. She also felt that the experience (especially the negative aspects) should be shared, to help other financial institutions avoid the pitfalls that almost inevitably arise in the course of such large-scale undertakings. ‘Saying that all is well just won’t do,’ she said. ‘Moving to a foreign core system is a huge step for any bank in Russia.’ The implementation was already in its second year and 75 per cent of the budget was already spent. There was quite a large project committee consisting of 25 people from the bank, plus a standalone implementation project office with its own IT team, which resulted in ‘an environment of internal competition’ between this team and the bank’s incumbent IT division. The latter’s mood was ‘awful’ and it was working hard to demonstrate that the new system was not suitable for the bank and to halt the project, said Schennikova. The mood of the users was no better, she added.


A firm deadline of 1st July 2008 was set for the go-live of the consumer credit offering, a key product line of Renaissance Credit. The consumer credit portfolio by then had two million loans and the large volume had previously proved to be a stumbling block for migration. Hence, a new methodology was devised to allow the go-live to take place as scheduled. ‘We decided to leave the old loans in the old system and let them finish their days there. But the new loans and accounts were to go into Profile.’ Users were sent a clear message that as of 1st July they


were to be working in Profile. ‘And they had to repeat it every day as a mantra,’ said Schennikova. Those discontented by moving to Profile were told that ‘the door was open’. The team tried a number of approaches but the firm one was the most effective in this situation, she believed.


The go-live took place as anticipated, on 1st July 2008. By Q1 2011, Profile supported over a million consumer credit contracts and two million accounts. The closing of the operational day was set for two hours, she said, to ensure a thorough process. The bank had negotiated a contract with FIS for the migration of its remaining offerings: car loans, cash advance loans and deposits (a new product for the bank). Schennikova left in 2012. Also in Russia, VTB 24 was a notable user. It was a start-up


bank of Vneshtorgbank and went live with the first phase of its Profile project in the first quarter of 2010. The project, having started at the end of 2008, would continue, by product type, for the next two or three years, according to Bruno Lopes, service delivery director for FIS Profile. ‘We’re probably a third of the


way through the project,’ he said, adding that much of the hard work was now finished. ‘In terms of breaking the ground with the culture, and the specific requirements of the Russian market, we are far ahead. The very complex requirements in regulatory reporting were a challenge, but we have overcome them.’ Now the project would focus on the roll-out of more and more products, which should be ‘simpler’. VTB 24 was undergoing system replacements in a number


of different areas. These included the front-end, the data warehouse, and core banking, with Profile addressing the latter. The aim with Profile was to achieve ‘scalability and availability’. The first phase was for loans, but the scope of the entire project was broad, to cover current accounts, savings, and credit and debit cards. It is ‘common’, said Lopes, for a Profile client to use the system to host just one business area, such as the deposits and savings portfolio, with other products being hosted by other systems, ‘and the whole architecture integrated by the bank’. But in the case of VTB 24, Profile would host ‘the majority, if not all, of the product portfolio the bank plans to manage’. VTB 24 also had plans to increase its range of products. A large focus of the project has been interfacing work, with new systems being brought in for different areas. ‘We are interfacing with everything the bank has, and everything the bank will have,’ Lopes said. There were 18 to 20 Fidelity employees on the project at any one time, with outsiders being brought in where necessary. The project was ‘very important because it allows FIS to develop our skills in the Russian market’. Russia was a ‘strategic country’ for FIS, Lopes suggesting that its sales team remained busy. The project was continuing in late 2012, with one mitigating factor having been the hike in volumes as a result of VTB’s acquisition of Transcreditbank. The residence of a western system alongside a local system


in Central and Eastern Europe was becoming a common one. In the Ukraine, FIS completed a project during 2008 with local supplier, CS Ltd, at ING Bank Ukraine, where the vendors automated the bank’s retail operations. It was centred on the retail core of Profile interfaced to the B2 banking system (a flagship product of CS Ltd), which ING used as its core software in the country. B2 supports payments, while Profile generates central bank reporting for ING’s retail operations. The latter also has a set of tools for generating internal and system-wide reporting. A project then started at ING in the Netherlands which, while somewhat shrouded in mystery, looked to be significant, as it appeared to be focused on the Dutch bank›s domestic business. It was understood that FIS had taken over running of the bank›s legacy systems and had started a phased move to Profile, initially for savings products. A non-disclose agreement stopped FIS saying anything about the project. Along with a couple of North American deals, there was a


significant win for Profile at National Bank of Pakistan after a drawn-out selection in May 2008. The bank had originally started looking about four years earlier. The project began soon after the signing, said John Haley, Fidelity›s MD for Asia


Universal Banking Systems Market Report | www.ibsintelligence.com 97


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