Azerbaijan, Baku / Trend corr I. Khalilova / Kapital Bank will finalize introduction of FlexCube software in its Baku branch, supplied by the company I-flex enabled by credit allotted by the World Bank, the Deputy President of Kapital Bank, Yashar Mammadov, reported.
"In the first stage the FlexCube software will be introduced only at the central office and Baku branch. Other branches will gradually be covered," Mammadov said. In his opinion, the change to the new system depends not only on Kapital Bank, but on the support of I-flex.
For the time being the bank is operating on the basis of separate programs, unlike other banks, Kapital Bank is implementing various operations (operations with premium bonds, state short-term bonds and so on), but they will be consolidated.
The cost of the contract with I-flex is $1,350,000, which will be used for the purchase of the central nucleus and 12 modules of FlexCube intended to provide services for 1mln accounts. The tender was held within the framework of the 'Financial Sector Technical Assistance' (FSTA) credit of the WB.