18.11.2008 | Austria

S&T: Complex IT-System for Ukrainian Oshadbank

IT Solution for Compensation Payments to USSR Savings Bank Investors

Over the course of just a month, S&T developed and implemented a very special data system for Oshadbank, the largest state-owned bank in Ukraine: this system will be used to handle compensation payments to all Ukrainian citizens who invested money in the former USSR State Savings Bank.
Very few government directives were met this year by Ukrainians with as much joy as the one that stipulated payment of compensation to investors in the USSR State Savings Bank, the largest and, indeed, only savings bank for private investors in the former Soviet Union. As would be expected, Oshadbank, which was handed the mandate by the government to manage the payments, was under considerable pressure to rapidly provide a suitable system. It was necessary to design, implement and launch the system, named the ‘Register of the Investors of the former USSR State Savings Bank’, in less than one month whilst taking into account special requirements such as high availability and reliability, capacity planning to allow expansion, supporting a high number of users simultaneously, and the use of a combination of proven and cutting-edge equipment and technologies.

Highly Sensitive Contract

S&T Ukraine was awarded the highly sensitive contract together with its partners EMC and UNITI-BARS. The project is centered on a consolidated database containing data about all Ukrainian citizens who had saved in the USSR Savings Bank, as well as all the data relating to compensation payments. The system simultaneously processes enquiries in real-time from across Ukraine and has a business intelligence solution as well as a reporting function in order to fulfill the various requirements of the bank and regulatory bodies. “Our Ukrainian experts have produced outstanding work despite the tight project schedule,” explains Christian Rosner, S&T CEO.

Anatoliy Solodovnik, Deputy Chairman of the Oshadbank Board: “The implementation project for the ‘Register of the Investors of the Former USSR State Savings Bank’ information analysis system represents a special phase in the development of the IT infrastructure at Oshadbank in Ukraine. The social importance of the issue placed great demands on the system to ensure payment of compensation to investors in the former USSR State Savings Bank, particularly in terms of reliability, scalability, functionality and, not least, in terms of the implementation conditions. The highly effective cooperation between Oshadbank and our reliable partners made it possible to solve the problem successfully and to thereby fulfill all the fundamental requirements. Oshadbank has again demonstrated that its infrastructure is well placed to provide top quality banking services with high levels of speed and accuracy to the whole of Ukraine.”
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