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Finastra CEO, Nadeem Syed

PJSC Sky Bank (Sky Bank) has selected FusionBanking Essence from Finastra for its banking operations in Ukraine. The move heralds a change at the private bank, which was established in 1991 (previously known as Region-Bank) and is now implementing a new customer-centric strategy. The bank changed ownership at the start of this year. “We’re changing the way we approach banking and to make this happen we are overhauling our IT operations and investing in modern and flexible technology that will give us a competitive edge,” said Arif Babayev, Chairman of Sky Bank. “We surveyed the market extensively and we are confident that we have made the right choice in Finastra. The company is well known for its pioneering approach to transformation and, being a leading global solution in the retail banking sphere, FusionBanking Essence will help us inject real innovation into our services.”

A strategic replacement to its legacy systems, FusionBanking Essence hopes the new solutions will provide a flexible and modern platform to improve the bank’s operational efficiency, enabling it to be quicker to market with products and ultimately to better serve its customers. A streamlined system to add new customers will contribute to greater customer satisfaction, integrated compliance capabilities and will enable the bank to manage risk responsively. The new automated processes will contribute to better cost to income ratio and increased profitability.

Nadeem Syed, CEO of Finastra said: “Our solutions support over 175 million retail accounts. The addition of Sky Bank highlights our commitment to helping banks around the world better serve their customers with flexible and reliable software at the core of their operations. FusionBanking Essence will help Sky Bank to unlock its potential, powering innovative banking services based on its customers.”


by Bill Boyle
IBS Intelligence Senior Editor