Tuesday, February 1 2011 17:40
Starting 1 Feb 2011 VTB Bank (Armenia) to launch automated system for retail credits
ArmInfo. Starting 1 Feb 2011 VTB Bank (Armenia) is launching an automated system for retail credits. The press service of the bank told ArmInfo that the system was worked out by the bank on the basis of technical design specifications formulated by the bank's risk managers with the support of VTB 24.
This means that all decisions about provision of loans, including the amount approved, are taken by the automated system of the bank, which is based on standard and accurate rules of decision making - credit scoring. The given approach to decision making has essential advantages for both customers and the bank itself. From the customers' viewpoint, the system allows ensuring a high level of efficiency: the customers of VTB Bank (Armenia) will be able to receive the bank's reply about possible provision of loans to them as soon as possible depending on the products. From the viewpoint of the bank, this is a huge step forward in terms of standardization of its credit processes.
Director General, Chairman of the Directorate of VTB Bank (Armenia) Valery Ovsyannikov says that according to its credit policy, the bank considers the retail market to be a priority segment having two important advantages: hi-tech market and retail express-crediting, which is a good source to attract new "desired" customers. "Though provision of loans is one of the oldest functions of the bank, minimal standardization is usually observed in this sphere. Therefore, for us, as a large universal bank, achievement of real progress in regulation of the given process was like a challenge that we have successfully overcome thanks to this automated system", he says. Ovsyannikov thinks that centralization of the functions of the credit back office, as well as registration of all transactions in a single center have given an opportunity to the bank to make its additional contribution to settlement of the problem of financial ompetence of the consumers of banking services.
"The bank is striving to make the borrowers realize their personal responsibility for the taken decisions, thereby creating premises for enhancing the credit culture, which, in its turn, will have a positive effect on development of the Armenian retail crediting market in general", he stresses. VTB Bank (Armenia) CJSC became a member of the VTB Group in April 2004. At present VTB Bank OJSC is the second largest bank in Russia and owns 100% of shares of VTB Bank (Armenia). The bank traditionally occupies the leading positions in the Armenian banking system by a number of main parameters. At the moment the bank has the largest branch network in the country (68 branches). As of 1 Jan 2011, the credit portfolio of the bank amounted to almost 85 bln AMD (17% annual growth).
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