Deputy Chairman of Halkbank Management Board Shares the Experience of Using a Colvir Solution

12 June 2023, 09:00, Turkmenistan
Shokhrat Khemragulyevich Italmazov: «The Corporate Internet Banking solution implementation creates competitive advantages for the Bank»
Deputy Chairman of Halkbank Management Board Shares the Experience of Using a Colvir Solution

The Colvir Software Solution Business Internet Banking product is well known and sought after by customers. The solution was implemented with HalkBank Commercial Joint-Stock Bank in September 2022. Deputy Chairman of Halkbank Management Board Shokhrat Khemragulyevich Italmazov has shared his feedback regarding the use of the Colvir solution, as well as comments from the Bank’s employees and customers.


— What objectives did the Bank set in implementing the Colvir Corporate Internet Banking solution?

— The global objective the Bank set in implementing the Corporate Internet Banking solution was to facilitate things for our, individuals, as well as entrepreneurs and entities. Improvements include:

  • Ease of use;
  • Time savings when making payments;
  • Reducing to a minimum the need to visit the Bank;
  • Making all sorts of payments directly from the settlement account at a minimum cost;
  • Creating regular payment document templates thus eliminating for customers the risk of failure to make timely disbursements and payments and incurring potential penalties;
  • Monitoring of accounts, account turnovers, printing out of account statements, executed payments, etc.
  • Sending all sorts of documents to the Bank.

The Corporate Internet Banking solution actually assists the Bank in growing its customer base by improving its competitive performance. The Internet Banking solution offers a number of advantages that facilitate retaining existing customers and attracting new ones.


— How did in your opinion the Bank’s collaboration with Colvir unfold with regard to the speed of implementation and the quality of product development and implementation?

— Our joint collaboration has been ongoing for nearly five years, and in all that time there has not been a single occasion when we had reasons to doubt the professionalism or the integrity of the Colvir team. Thanks to the prompt achievement of all the tasks set we completed the project on time. The product implementation was completed successfully and provided a good example of quality and professionalism. We wish to all the friendly Colvir team professional success and prosperity, and we are grateful to them for the delivered services and for the partnership.


—What is the impression your employees get from using the Corporate Internet Banking solution?

— Exclusively positive. Our Bank’s motto is: «The primary value of our Bank is our customer». The Bank’s employees feel good when the customer is happy. The implementation of the Corporate Internet Banking product makes life easier not only for the customer, bit for the Bank employee as well. The employee no longer to spend much time on processing. All the Bank’s employee needs to do is recheck the online payment, and in case it is drawn up correctly just perform the Execute operation. In the event some additional documents are required to confirm the payment, the Bank employee may contact the customer by creating the appropriate online letter in the CBS and send it the customer’s Internet Banking personal space. On the whole the business internet banking solution means simplicity, user friendliness, instantaneous speed and high quality.


— How much sought after will the services of the Corporate Internet banking solution be by your customers? What sort of user and transaction numbers are you planning for?

— The demand from our customers is massive, as the Corporate Internet Banking solution facilitates for customers access to their accounts, as well as to general banking services information using a computer, a tablet PC, or a smart phone.

We will aim to win as many customers as we can. As far as the numbers of users and transactions are concerned, we are not setting any specific targets – we just want to be the leader in our field, and we make every effort to meet the needs of our customers.


— What are the most significant changes that have occurred, or will occur in the Bank’s activities following the Corporate Internet Banking solution go-live?

— The Colvir Corporate Internet Banking solution go-live provides for the Bank incentive to review its e-commerce strategies. The factors that may bring about changes to the Bank’s strategy include as follows:

  1. Competitive ability – competitive pressures are the driving force for the use of internet banking bringing about a cost reduction and a profitability improvement. The Bank considers the Corporate Internet Banking solution as a method of retaining existing customers and attracting new ones.
  2. Expenditure effectiveness – The Bank will be able to deliver banking services over the Internet at much lower operating costs than the cost of traditional stationary banking offices. The actual cost of transaction processing varies depending on the service delivery channel being used.

The Corporate Internet Banking solution provides a unique opportunity to construct customer dialogues in such a way as to enable the Bank, on the one hand, to assess the efficiency of its performance, while, on the other hand, pay due attention to the customer at actually minimum cost. 


— In what way will the Corporate Internet Banking solution at Halkbank help to attract new customers?

— The key advantage of the Halkbank Corporate Internet Banking solution is simple and user-friendly interface that is much sought after by customers. The core system functionality includes:

  • funds transfer between customer accounts;
  • simple remittance order processing;
  • user template maintenance for similar type periodic documents, template-base document creation;
  • provision of up-to-date customer account balances and account statements;
  • managing correspondence with the Bank;
  • distribution of the Bank’s notices;
  • the Bank’s exchange rate information ;
  • counterparty and payment detail directory, etc.

As distinct from Internet banking solutions of other Turkmenistan banks, the list of services offered by our Corporate Internet Banking solution includes browsing of credit and deposit accounts, as well as their repayment schedules. Functionality has also been developed to import ordinary and payroll payments created leveraging the 1S Enterprise platform software.


Doing a joint project with the Halkbank team is always an honor and a pleasure for us. The Bank is distinguished by its highly professional team, open and friendly communication, its inspiring pursuance of development and being able to offer the best services to its customers. It was exactly the quest of Halkbank customers for state-of-the-art digital financial products that determined the selection of the Colvir Business Internet Banking solution. Our full-featured remote banking service delivery solution for legal entities facilitates fast and user-friendly processing of the vast majority of transactions that Halkbank customers may require without the need for a personal visit to the Bank at a time convenient for them. Our company is glad to assist Halkbank in transforming and perfecting the technology landscape of the Turkmenistan financial market for the benefit of the Bank’s customers.
Gleb Semenov
Colvir Software Solutions Account Manager

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