Center of Financial Technologies (CFT) (russian: Центр Финансовых Технологий, ''Centr Finansovyh Tekhnologiy'') is a Russian software company that provides software solutions and services to financial, healthcare and public sectors. It has been described as "Russia’s national payment system (like PayPal for Russia)". It is among the five largest software developing companies operating on the

CIS Cis or cis- may refer to: Places * Cis, Trentino, in Italy * In Poland: ** Cis, Świętokrzyskie Voivodeship, south-central ** Cis, Warmian-Masurian Voivodeship, north Math, science and biology * cis (mathematics) (cis(''θ'')), a trigonome ...

market.

Operations

The

company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common p ...

offers banking software and processing services.

Banking software

In financial services, the company's software is used in

retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...

and corporate banking to automate processes. CFT also provides solution to

capital market A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers t ...

activities. * 2MCA (Mission Critical Application) - universal banking system designed for federal and multi-divisional banks. * CFT-Bank (based on

Oracle An oracle is a person or agency considered to provide wise and insightful counsel or prophetic predictions, most notably including precognition of the future, inspired by deities. As such, it is a form of divination. Description The word '' ...

) - core banking system for operation, accounting, management systems automation. * CFT-Retail Bank (based on Oracle) - retail banking solution. * CFT-Data Warehouse (based on Oracle) - centralized information and analytic system for a corporate data warehouse. * CFT-Front Office - front

system * CFT-Budget Planning, CFT-Management Accounts, bank management systems - systems for budgeting and management accounts.

Processing services

Zolotaya Korona KoronaPay is an international payment and money transfer system that provides a range of financial consumer products. KoronaPay has an app that offers cross border card-2-card, card-2-cash, and cash-2-cash money transfers as well as a market-beati ...

: Russian

payment system A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, instruments, people, rules, procedures, standards, and technologies that make its exchange possible.Biago ...

that provides cash and cashless services. The system unites over 160 participants in 75 regions of Russian Federation and the CIS. As of January 1, 2009, the number of cards emitted in the system was 14,382, 223. The total turnover in the system reached 415.8 billion rubles. * Zolotaya Korona - Money Transfers: instant money transfers without account opening, that unites over 20,000 points on the territory of RF and CIS, 220 banks and retailers; integrated with

MoneyGram MoneyGram International, Inc. is an American cross-border Peer-to-peer, P2P payments and electronic funds transfer, money transfer company based in the United States with headquarters in Dallas, Dallas, Texas. It has an operations center in St. L ...

system. * National bill consolidation system Gorod: collection and processing of utilities and other mass payments. * Faktura.ru: interbank center that provides internet and

mobile banking Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses ...

solutions for corporate and retail customers. * Processing center CardStandard: provides processing services for emission and acquiring of international payment systems cards

Visa International Visa Inc. (; stylized as ''VISA'') is an American multinational financial services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded cre ...

and MasterCard WorldWide.

Market role

CFT Group is among the top five largest software developers on the Russian market. According to IBS Intelligence, CFT occupies the 1st place according to the number of new contracts for

core banking Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices. Core banking is often associated with retail b ...

system on the Russian and CIS markets. Among CFT customers are such banks as

Sberbank PJSC Sberbank (russian: Сбербанк, initially a contraction of russian: сберегательный банк, translit=sberegatelnyy bank, lit=savings bank, link=no) is a Russian majority state-owned banking and financial services compan ...

of Russia,

Gazprombank Gazprombank (russian: Газпромбанк), or GPB (JSC), is a private-owned Russian bank, the third largest bank in the country by assets. Since November 2014, Yuri Shamalov's Gazfond is its largest shareholder. The bank’s principal busines ...

MDM Bank MDM Bank (russian: МДМ Банк; 2009-2017), is a former Russian joint stock commercial bank. Original MDM-Bank was one of Russia's largest private banks originally based in Moscow (1993-2009), then merged renamed and moved to Novosibirsk (2009 ...

, and

Uralsib Uralsib (russian: ПАО «Банк Уралсиб») is a Russian commercial bank, headquartered in Moscow. According to Russian Forbes, as of 2022, it was one of the country's largest banks with the net asset value of approximately 530 billio ...

References

External links

Center of Financial Technologies
{{DEFAULTSORT:Center Of Financial Technologies (Cft) Banking technology Outsourcing companies Software companies of Russia Banks established in 1991 Financial technology companies Companies based in Novosibirsk Sovetsky District, Novosibirsk 1991 establishments in Russia Financial services companies established in 1991