JACKSONVILLE, Fla. – Fidelity National Information Services, Inc. (NYSE: FIS), a Fortune 500 company and a leading provider of core processing, card issuer and transaction processing services to financial institutions, today announced the successful implementation of its advanced core processing solution, FIS Profile, at Renaissance Credit in Russia. Replacing outdated legacy technology, the FIS Profile system is now live and supporting the bank’s high-volume consumer lending business.
Conducting business in 66 regions in Russia, Renaissance Credit offers instalment and general purpose loans, credit cards and auto loans. Encouraged by growing consumer confidence in Russia, the bank chose FIS Profile to replace its existing loan-book technology because Profile could scale to their needs and yet be flexible enough to adapt to the unique requirements of the Russian banking market.
FIS Profile is a strategic, real-time core banking system targeted to leading global institutions that require exceptional scalability, reliability and business continuity. Profile’s integrated architecture contains all of a bank’s customer data and deposit and loan accounts within a single logical system of record. An extensive inventory of configurable components is shared across all product lines to support loan and deposit products. This unique application design improves operating efficiency while dramatically accelerating the time to market of new products and services.
“One of our bank’s main advantages is its high-level technological base,” said Alexey Levchenko, chairman of the management board of CB Renaissance Capital (OOO). “The Profile implementation became the next step of its development and we are glad that this project was completed successfully. This project will help us to work with huge amounts of information effectively and provide superior customer services.”
A team of FIS experts, working in close collaboration with local contractors EGAR Technology and Neoflex and the bank’s own IT staff, helped ensure Profile’s smooth and fully integrated implementation into Renaissance Credit’s back-office operations.
“The Russian banking industry is very different to other European markets,” commented Mark Davey, managing director for FIS EMEA. “Its regulatory reporting make-up is extremely complex and multifaceted and Renaissance Credit needed a system that would fully comply with Russian accounting and reporting demands. Many traditional banking software vendors have found these requirements extremely challenging.
“With Profile operating flawlessly for several months in Renaissance Credit,” Davey continued, “we have proven that Profile can adapt to Russian requirements and fit the needs of even a very large and sophisticated bank, bringing to the Russian market the vast array of functional and technical advantages that this truly global system offers. This hugely successful FIS project is particularly significant for us because it is our first Profile implementation in Russia and based on this success, we expect many other banks in the region to benefit from our solutions.”
About Renaissance Credit
Renaissance Credit is a trade mark of Commercial Bank Renaissance Capital (OOO), (banking license #3354 issued by the Central Bank of Russia), which offers banking services in Russia. Renaissance Credit is a part of Renaissance Credit Group, which operates on the consumer finance market and also is a part of “Renaissance Group” (www.renaissancegroup.com). Renaissance Group also includes LLC “Bank Renaissance Capital” in Ukraine.
About Fidelity National Information Services, Inc.
Fidelity National Information Services, Inc. (NYSE: FIS), a Fortune 500 company, is a leading provider of core processing for financial institutions; card issuer and transaction processing services; and outsourcing services to financial institutions and retailers. FIS has processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500® Index and has been ranked the number one banking technology provider in the world by American Banker and the research firm Financial Insights in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 13,000 financial institutions in more than 80 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.