Home News & events Press Releases 2009 Kapital Bank implements new processing centre and issues the millionth VISA card

 

Kapital_BankKapital Bank holds press conference for double celebration: the implementation of their new processing centre and the millionth VISA card being issued since establishment.

On May 21st 2009 a press conference was held at the Kapital Bank headquarters in Baku, Azerbaijan, in conjunction with VISA and Compass Plus, to present an award to the customer issued with the millionth VISA card.

The celebrations went on to include the implementation of the bank’s in-house processing centre on May 5th, the first ever in Azerbaijan. The new centre runs on the TranzWare™ platform provided by Compass Plus, a leading international provider of electronic payment software and solutions. Svetlana Georbelidze, a representative of VISA, mentioned in her speech that this event will improve payment services and endorse new projects that will be available for all Azerbaijani citizens. Kapital Bank has the most extensive branch network throughout Azerbaijan and has issued the largest number of cards in the Republic.

Commended for its experience and reliability, Compass Plus was chosen to provide its expertise over 7 other companies in the running for the project. Rauf Rzayev, chairman of Kapital Bank, noted that it was not the price of the solution that was the deciding factor, but the extensive functionality of the banking technologies and Compass Plus’ proven experience in the implementation of innovative and large-scale projects. The company currently serves over 90 financial institutions, processing centres and national switches in 23 countries across the world.

Andrey Chirkov, Regional Director of Compass Plus emphasised the strategic importance of this project for the company in his speech: "We highly value this project as it is a new market for Compass Plus and we feel socially responsible whilst migrating large volumes of cards en masse."

The well organised work from the Compass Plus and Kapital Bank project teams allowed all obstacles to be overcome with ease; with the implementation process taking less than a year in total. Ali Akhundov, the Head of Kapital Bank’s project team stressed the migration process went without losses for both the bank and client, with a gap in service of just 6 hours and approximately 2 million cards being migrated within this window.

In conclusion, Chairman Rauf Rzayev of Kapital Bank noted that having the processing centre is strategically advantageous for the bank as it creates a platform for the long-term development of remote banking services and electronic payments. He went on to look at the bank’s plans for the near future with an emphasis put upon the implementation of a loyalty programme to stimulate the growth of electronic payments and to develop the retail network in Azerbaijan. Thanks to the newly operational platform, Kapital Bank will offer an array of new services, to include mobile and Internet banking. The newly established in-house processing centre will also enable the bank to significantly enhance the security of all card operations as Kapital Bank launched TranzWare Fraud Analyzer, an advanced fraud monitoring and risk management system that will help in the continuous struggle against fraud.

Kapital Bank, being universal in nature, provides a wide range of banking services both for corporate clients and individuals and has the widest network of branches throughout Azerbaijan. It is a bank of social importance – the agent-bank of the State in implementing major governmental and social programs. Kapital Bank is viewed as highly trustworthy in the international arena and is a Principle Member of MasterCard Worldwide and VISA International.
www.kapitalbank.az