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Innovations is a result of an urge to develop banking at the modern european level - Boris Tymonkin

10.01.2013

Borys Tymonkin, CEO of PJSC "Ukrsotsbank", UniCredit BankTM, answered the reporter's question during the interview to the official periodic issue of the National Bank of Ukraine, "Vestnik NBU", about how can the bank he heads over years remain the locomotive of innovation in the sector.

"Today PJSC" Ukrsotsbank" is the part of UniCredit, European banking network, - banker says. - We are working according to international standards, taking into account the specifics of the domestic market. Often it is very difficult to do it. For example, we conducted great job when the bank switched to the latest computer system. We had to implement it according to the standards of the Bank for such a class and such a country. We did it in spite of the complexity of the implementation".

According to the CEO, Ukrainian banks can and do compete with powerful foreign ones in the technology sector. "The IT-technologies level is high in Ukraine, so the banks do not need to buy ready-made foreign products "in the boxes". These are mostly outdated solutions that need adaption for definite institution at the specific local market, while the amount of customization will be huge in the end, the banker said. – We have necessary potential for that, we can develop and implement banking technology products at lower prices and in more efficient way. This is an important competitive advantage. "

These views B.V. Tymonkin expressed during the interview to the official periodic issue of the National Bank of Ukraine, “Vestnik NBU”. The full version of an article you may view in “Vestnik NBU” № 12 for December 2012.

 

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank’s client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.


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