Raiffeisenbank Has Completed the Integration of Its Bank Card Processing Centres

ZAO Raiffeisenbank has announced that they have completed one of their most important integration projects: the integration of its bank card processing centres. As a result of this, the processing systems for Visa International and MasterCard International payment system cardholder services have been consolidated. This affects unified product purchase, e-commerce, the network of banking machines, and banking services offered to Raiffeisenbank debit and credit cardholders. The consolidation process took a year and a half to complete.

«The integration of the processing centres is an important stage in the implementation process of the project to form a consolidated operational platform for Raiffeisenbank, and it allows us to effectively implement business development plans based on international payment system cards, providing bank clients with a high level of customer service, modern card-based products, and convenient service channels,» noted Cristoph Schoefboeck, a Member of the Board and Head of Operations and IT Directorate.

Currently, Raiffeisenbank's processing infrastructure is fully centralised; earlier software products from various suppliers that were used for card operations support have been eliminated.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is ranking 9th in terms of assets among the Russian banks based on 1Q 2009 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 4th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 1Q 2009 results.

Raiffeisen International operates one of the largest banking networks in CEE. 17 markets in Europe's growth region are covered by subsidiary banks, leasing companies and a range of other financial service providers. The group’s more than 62,000 employees service over 14.9 million customers via more than 3,200 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns about 70 per cent of the common stock. The remainder is in free float, the shares are listed on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group.