NEW YORK and MOSCOW, Feb. 19, 2021 /PRNewswire/ -- Bank ZENIT, leveraging EGAR Global's NoCode platform, successfully implemented a next-generation Treasury Operations solution built on NoCode and pulling key functionality from EGAR Focus's range of banking-specific Treasury operations and liquidity management tools. The industry leading NoCode platform adds deep configurability to EGAR's end-to-end solutions. In recent years, banks and financial institutions have increasingly sought more flexibility and control throughout their front, middle, and backoffice divisions.
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EGAR's liquidity management solution delivered unparalleled real-time transparency to both incoming and outgoing balances and transactions on the Bank's correspondent accounts. Leveraging powerful integration frameworks, EGAR NoCode accelerated the high volume of integrations with Bank ZENIT's internal systems, ensuring key data was de-siloed and accessible for instant liquidity reporting, including for SWIFT payments processing.
Bank ZENIT has utilized EGAR technology since 2016, automating banking operations and consistently delivering value across all deployments. Today Bank ZENIT supports EGAR Focus Trading for financial markets, EGAR Risk & Limits Manager for risk management and limit control, and EGAR Connect for deep integrations between internal systems, external data sources, and execution platforms.
The EGAR NoCode Treasury solution helps organizations see the full picture of cross-department liquidity and cash flows. NoCode Enterprise Payments seamlessly manages payments and controls liquidity, incorporating data from multi-currency balances across correspondent accounts—nostro and vostro accounts, accounts with regulators, etc.—and their associated cash flows.
Department Head of Short-term Treasury Resources at PJSC Bank ZENIT, Svetlana Loozhenkova noted, "The Treasury automation project is a continuation of the collaboration between Bank ZENIT PJSC and EGAR, which has proved to be a reliable technology partner. [This] EGAR… solution has provided a new level of liquidity management in the Bank that meets the challenges of the financial market and the opportunities of modern technologies."
EGAR Russia CEO, Armen Shahnazaryan added, "Today, Bank ZENIT PJSC provides a wide range of universal Bank services for individuals and legal entities, the bank has strong positions in the investment services market. We are encouraged by the success of the treasury project, as well as the fact that we were able to offer one of the market leaders the necessary functional coverage and modern technical characteristics of a solution for managing liquidity. We would like to sincerely thank the team and management of Bank ZENIT PJSC for the effective cooperation."
About EGAR Global NoCode
With 20 years of FSI expertise, EGAR Global is pioneering no-code within financial services. Proven at over 150 capital market firms, EGAR Global solutions have helped manage over one trillion dollars cumulatively.
The EGAR NoCode platform is the only application platform with majority no-code development, native to FSI, and capable of meeting enterprise scalability with true no-code operation. With hundreds of services, NoCode delivers a turnkey platform for banks and financial institutions to build enterprise systems. With hundreds of experienced specialists, EGAR Global provides expert onsite support for NoCode and the underlying technologies, from Camunda BPM to MongoDB and more.
SOURCE EGAR Global