Colvir Core Banking System Helps Turonbank to Develop their Business

11 December 2023, 05:00, Tashkent, Uzbekistan
The Colvir team share their experience of implementing the System and discuss its performance one year after go-live
Colvir Core Banking System Helps Turonbank to Develop their Business

On September 5, Turonbank, one of the largest banks in Uzbekistan, commenced running on Colvir Core Banking System. A financial market actor since 1990, Turonbank joint-stock commercial bank is offering to the public a broad range of services, has 20 branches in all Uzbekistan provinces, and is successfully delivering services to corporate customers, as well as to individuals. The choice of Colvir Core Banking System was determined by the need to support the Bank’s further development and to ensure customer experience that exceeds customer expectations.

Turonbank is Colvir’s second customer in Uzbekistan. One year earlier, in August 2021, Alokabank cut over to Colvir Core Banking System.

Turonbank’s choice of Colvir Core Banking System, on which over 30 banks in the world are running, was a significant and even momentous event for the company as a whole. Turonbank has already proved itself to be a stable, advantageous and long-term player in the region’s financial market. The integrated all-inclusive automated system from Colvir will make it possible for the Bank to assign resources to promising areas, grow and diversify its customer base, and improve the quality of its banking services to perfection. We are very pleased with this opportunity to collaborate with Turonbank providing the Bank with state-of-the-art banking business management technologies.
Veronika Sazonova
Colvir Software Solutions Turonbank Account Manager

105 modules and optional sub-modules were installed within the Core Banking System implementation project scope, including such products as Colvir ERP, Multi-Channel Service Delivery, Colvir Treasury, Compliance and Risk Management, Analytical Platform, Service Bus, Entity Information Facility, Loan Management, Payment System/Local Clearing modules, as well as mobile applications for corporate and individual customers.

With Alokabank Colvir CBS implementation experience under its belt, our team has a much easier time with the Turonbank project. We understood the processes and could take into account all ins and outs of the previous projects to make the Turonbank go-live easier. Nonetheless, given the project scope, a large team was assigned from Colvir — 373 company employees were involved in the project to various extents. On top of installing the system kernel, Colvir platform and all requisite modules and optional sub-modules, some new solutions were implemented for Turonbank. These included mobile application development and implementation for individual and corporate customers, OFB Switch integration, automated depository machine integration.
Andrey Rubtsov
Colvir Software Solutions Implementation Project Manager

The success of the Turonbank go-live was due to the joint Bank and Colvir team involved in the project, as well as to Turonbank management who were always available and willing to provide their assistance throughout all implementation stages. Significant effort from our side was focused on the process for data migration from the old system. The fact that the time assigned for the Turonbank cutover to Colvir CBS process was 4 public holiday days drastically reduced the risks involved, and made it possible for the new system to go live as scheduled. As a result of Colvir CBS implementation the Bank now has a state-of-the-art solution that is fast and secure, and ability to develop new products for its different activity areas. Our Core Banking System will enable Turonbank to offer to its customers improved services, an extended product line and remote service delivery channels of a high quality.
Veronika Sazonova
Colvir Software Solutions Turonbank Account Manager

One year after go-live Turonbank is successfully leveraging to a maximum degree features offered by Colvir Core Banking System. Bank employees offer positive comment with regard to the system. Colvir product implementation has facilitated automation of the majority of manual data processing processes raising the Bank;s operational performance and its business process efficiency.

Without a shadow of a doubt the banking industry is undergoing fast changes, and Turonbank is using its best efforts to stay at the forefront of this process. Our goal is to ensure uninterrupted customer support over digital channels. Our recent cutover to the Core Banking System from Colvir, the recognized IT leader in CIS countries, ensures a unified banking experience not available with most banks. Today customers can manage their accounts with different branches, and individuals may get access to various services, including loans and account management, via our mobile application. Benefits also accrue for corporate customers from online fund management. The Bank’s priority at this point in time is to complete the transformation process by the end of 2025.
Chori Mirzayev
Chairman of the Turonbank JSCB Management Board

The mobile application provided by Colvir has been quite successful — this highly competitive solution offering broad functionality is drawing high praise at marketplaces.

We have developed a mobile application within the Uzbekistan implementation project scope. Today this solution has been released, its stable releases are successfully running at Turonbank. We are planning to roll this solution out in other regions of our presence.
Vitaly Terentiev
Technology Department Director, Colvir Software Solutions

The Colvir solution takes into account all the current digital banking service trends: ecosystem approach, state-of-the-art technologies and first-class customer experience.

Our mobile application has proved itself as the best solution for banks using Colvir CBS. We have carried out a fast and high-quality product implementation. As a result, the bank has received a highly competitive application that provides all the basic functionality plus extended features, and combines state-of-the-art technologies with a user-friendly interface. Turonbank employees and customers have highly appreciated the speed and convenience of our solution.
Veronika Sazonova
Colvir Software Solutions Turonbank Account Manager

In order to retain its position of leadership in the financial services market Turonbank continues to upgrade its management and technology processes, while Colvir Software Solutions are always ready to offer their solutions, their experience and their expertise to support the Bank at each stage of its development. The joint plan drawn up by the vendor and the Bank includes: customer segmentation, MIS reporting improvement, and further mobile application development.

Colvir would like to extend to Turonbank its congratulations on the successful completion of the process transformation and stabilization phase that opens for the Bank a new level of perspectives, ambitions and goals.

Please write to to arrange a solution demo by Colvir Software Solutions.

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