Halyk Bank Kyrgyzstan Takes Advantage of Upgraded Colvir Treasury Functionality

Halyk Bank Kyrgyzstan has been using Colvir Core Banking System to support its operations since 2010. At the end of 2021 new Colvir Treasury modules were implemented at the Bank, and the functionality already in place was upgraded. The installed products have inter alia facilitated more effective budgetary planning and bank liquidity management, online cash flow analysis, and reduced cash gap risks. We are proud of this opportunity provided by Halyk Bank for us to perform digital transformation of its Treasury, and we would like to thank the Bank for their cooperation.

Achilles Metaxa

Colvir Software Solutions Account Manager for the Bank

The Treasury suite offers end-to-end automation of the Bank’s operations in international and domestic financial markets. The suite is integrated with payment system functionality, and can perform the tax agent role. Colvir Treasury gets updated on a regular basis in order to meet contemporary financial market challenges, and to ensure its compliance with international functional and security standards.

The scope of the Treasury upgrade project implemented with Halyk Bank Kyrgyzstan included implementation of the Money Market module to support loan and deposit placement and mobilization deals in foreign and local currency, and the Forex Market module to support generation and processing of outgoing and incoming SWIFT messages, as well as automation of deal capture and processing for forex buy and sell transactions in the interbank market. The scope also included the addition of the Interbank Credit lines, Client Dealing and Refinitiv Interface optional sub-modules to facilitate loading of deal data from trading systems. On top of this additional development was carried out specifically for Halyk Bank Kyrgyzstan to automate inter-branch deal processing.

Andrey Rubtsov

Project Manager

The upgraded functionality delivers for the Bank Treasury business process automation, simple and user-friendly trading platform interaction, as well as speeding up of the inter-branch conversion process. Thanks to the seamless integration between the Colvir Treasury and the Colvir Core Banking System, all operations are processed within the centralized Treasury solution, thus facilitating speeding-up of such processes as bank statement collection and processing, payment monitoring, payment calendar generation.

The reason for initiating the Treasury upgrade project was the need to automate a number of operations. We lacked adequate interbank loan and deposit functionality, inter-bank deals had to be processed manually, no automatic netting support was available. The project turned out to be quite labor-intensive for all participants including the Bank. Based on what has already been implemented and gone live, the impression one gets of the product is quite positive: a lot of operations have been automated, Bank officers no longer have to post manual entries. In future we expect to upgrade other products within the Colvir Core Banking System, e.g. deploy the Payroll module.

Mira Omurbayeva

Project Manager of the Core Banking System Development Division, Halyk Bank Kyrgyzstan IT Department