Russian Banking System Undergoes Rapid Change with Emphasis on Self-Service Technology

The Russian banking system is in the midst of rapid transformation, with a focus on introducing self-service systems to enhance the quality of service to customers. Stolichny Bank, one of the largest commercial banks in Russia, has been a leader in this effort, developing a network of Automatic Teller Machines (ATMs) with over 100 installations across various branches and locations. This experience has led to an unprecedented agreement between Stolichny Bank and IBM to deliver and install 2,000 ATMs across Moscow and several other Russian cities.

Key Takeaways:

• Stolichny Bank has developed a network of ATMs with over 100 installations across Russia, showcasing its commitment to self-service technology.
• The bank has partnered with IBM to deliver and install 2,000 ATMs across Moscow and other Russian cities, marking a significant step in modernizing the Russian banking system.
• The ATMs will be authorized via an IBM AS/400 central system, enabling customers to access cash not only in Moscow but also across the Russian Federation.
• The partnership between Stolichny Bank and IBM will not only involve ATM delivery but also joint installation, service, and marketing efforts.
• The initiative aims to reduce customers' dependency on bank opening hours, providing increased convenience and accessibility.

Statistics:

• Over 100 ATMs have been installed across various Stolichny Bank branches and locations in Russia.
• 2,000 ATMs will be delivered and installed across Moscow and several other Russian cities.
• The ATMs will be authorized via an IBM AS/400 central system.
• The bank's customers will be able to access cash across the Russian Federation, not limited to Moscow.
• The partnership between Stolichny Bank and IBM includes joint installation, service, and marketing efforts.

Sources:

• BUSINESS WIRE | Nov. 17, 1994
• IBM Corp., headquartered in Armonk, New York.