Home News & events Press Releases 2010 RoyalBank launches own processing centre based on TranzWare

 

bRoyalBankOne of the most steadily growing banks in Azerbaijan RoyalBank has launched its own processing center based on TranzWare solutions from Compass Plus.

The launch of its in-house processing center, RoyalCard, will enable the bank to expand its own card business, minimising card transaction operation costs and reducing card time-to-market, as well as providing customers with a complete suite of services ranging from standard applications to innovative solutions. The processing system includes a solution that can monitor and prevent fraudulent transactions facilitating the security of any operations performed. The bank has high ambitions for the in-house processing center, with the intention that it will strengthen their growth and enable them to become the leading Bank in the Azerbaijan banking services market.

The range of capabilities that the TranzWare processing system offers will allow for the effective management of multiple remote service channels using various means including enabling customers to settle payments and manage their funds using the Internet and mobile phones. The system implemented by the bank will make it possible to offer customers a full variety of banking solutions: from familiar debit and credit cards to unique-for-the-Azerbaijan-market co-branding and loyalty cards. Currently RoyalBank has successfully certified its in-house RoyalCard processing system with the international payment system Visa, and is currently in the final phase of its certification in MasterCard, JCB and China Union Pay payment systems.

Mr. Farid Ghasanov, Deputy Chairman of the Board of RoyalBank said of the project:
“The launch of our own processing center based on Compass Plus’ state-of-the-art comprehensive solutions will secure the control over the key card business management processes within the bank and significantly enhance our competitiveness in the market. Having chosen a robust and efficient system with unlimited scalability and streamlined functionality, RoyalBank ensured protection of its investments for many years”.

About Royal Bank:
Established in Azerbaijan in 1993, RoyalBank currently has 32 branches throughout the country. The bank specialises in retail banking for Small and Medium Enterprise. RoyalBank collaborates with various international financial institutions such as International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), United States Agency for International Development (USAID) and the Asian Development Bank (ADB).
www.royalbank.az

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