VTB opts for Misys

Russia's VTB Bank has adopted a trade finance software system from the UK software and provider Misys. 

The new solution is known as Misys Trade Innovation and it has already been integrated in the VTB's back-office system used within its headquarters. It will soon be introduced in the back-offices across all branches.

"A smooth and efficient implementation of the trade finance automation solution was crucial for us in improving our customer service and increasing our trade business. We take pride in our personal and tailor made customer service in the trade finance area and Trade Innovation was considered to be the only solution that could provide us with the tools to maintain and further improve that,” comments Natalia Fedorova, director of trade finance and currency control department of VTB. 

Trade finance is one of the key business lines for VTB. It is a rapidly expanding bank, particularly following its IPO in May 2007, which was one of the largest ever to date, with over US$8bn raised.