FORS offers a comprehensive range of IT services and products in the financial sector that enable to address strategic and operational business challenges faced by banks, insurance companies and investment funds.
FORS solutions
Business intelligence and data warehousing systems based on Oracle EPM software and own applications are designed to assess corporate performance and to improve decision-making process. The systems enable to enhance operational efficiency, to control compliance with plans and to formulate strategic priorities;
Integration of corporate applications based on service-oriented architecture. Integrated solutions enable to use all existing corporate systems and to create new applications in the seamless environment, to reduce total cost of ownership of IT infrastructure, to enhance its flexibility and adaptability;
Enterprise resource management systems. Oracle E-Business Suite-based solutions enable to automate entirely various operations, including financial planning and budgeting, payment HR and finance management, as well as functions of treasury departments.
vBank information security assessment and monitoring solution (Atlas BS) enables to meet information security requirements of the Central Bank of Russia for the Russian banking system (STO BR IBBS-1.2-2009).
Information security solutions are designed to ensure compliance with federal laws (N152-FZ “On Personal Data” and N 5485-1 “On State Secret”), statutory regulations, internal corporate standards and regulators’ requirements;
Portal solutions based on a line of Oracle Web Logic, Oracle AS Portal, Oracle Web Center+Oracle UCM and own applications enable to provide a single access point to all corporate information resources, to support user communications and distributed document processing, etc.
Electronic archive and workflow management systems based on Oracle Fusion Middleware and ELAD product family enable to streamline document processing, to facilitate problem solving and to make a transition to promising and cost-effective paperless technologies.
Specialized industry-specific solutions:
Tax accounting system is designed to keep detailed records of taxable sources at a commercial bank, holding or company and to make computations to fill tax returns.
Distance financial workflow system is designed to support budgeting functions of the Federal Treasury, treasury departments of banks or corporations — recipients/administrators of federal budget appropriations, as well as of budget revenue controllers.
Benefits of cooperation with FORS
FORS has got extensive experiences and adequate resources to implement projects in the financial sector. Benefits of cooperation with FORS are based on long-term partnership and close integration with Oracle Corporation, as well as on sustainable position in the IT market of Russia and the CIS countries.
A strong reputation in the market of Oracle-based systems, including banking systems, 18-year history, a large number of projects implemented in Russia and in the CIS countries, own training center and Oracle certified technical support center;
Deep insight of architecture and functionality of foreign banking systems and possibilities of their adaptation to meet Russia’s special conditions; FORS experts have passed training courses in SYMBOLS, ActiveBank and FlexCube directly at vendor premises, the employees have got profound understanding of architectural, technological and functional aspects of the above listed and other systems currently applied by foreign banks. SYMBOLS system has been successfully localized to meet the Russian legislative requirements and banking practices.
FORS has been staffed with skilled personnel, having proficient knowledge of Oracle technologies and over 10-year experiences in foreign and Russian banking system deployment (Banker, Athena, IBSO, Va-Bank XL, etc), covering all banking business areas.
A comprehensive range of services, including:
Delivery of consulting and expertise services relating to the above listed products;
Delivery of Oracle software licenses;
Implementation of information system development and deployment projects;
Product adaptation to meet customer needs and development of custom-made systems to amplify their functionality;
Integration of bank applications by using Oracle Fusion Middleware line, including mutual integration of such products;
Planning and implementation of migration to new software versions and technological platforms;
Technical support and maintenance of information systems;
Customer staff training at FORS training and consulting center certified by Oracle Corporation.
Core projects
Vnesheconombank
Migration of the Vnesheconombank (VEB) information system from Oracle 7 DBMS to Oracle 9i version was carried out in 2005. Two expert teams (VEB and FORS) joined own efforts and implement activities according to a common plan that enabled to finalize the project successfully and within the deadline. As a result all basic characteristics of the VEB information system were maintained, bank divisions continued own routine operations and the bank substantially reduced the risk exposure associated with termination of Oracle Corporation’s technical support for the DBMS obsolete version.
In January 2003 the tax accounting system was deployed at Vnesheconombank. The information system was designed to meet requirements set forth in chapter 24 of the RF Tax Code, in particular to maintain detailed records of taxable sources and to make computations to fill tax returns;
FORS has been contracted by Vnesheconombank to implement the following ongoing activities:
To integrate bank’s applications, including legacy systems resulting from mergers, acquisitions and restructurings by using Oracle BPEL;
To create an internal corporate portal based on Oracle AS Portal.
Vneshtorgbank
In 2006 the tax accounting system and the individual lending subsystem were deployed at Vneshtorgbank.
UniCredit Bank
FORS has been contracted by UniCredit Bank to implement Basel-II risk management standards by creating “gateways” between bank’s systems and the ratio calculator facility using Oracle Database and Oracle Application Server technologies.
Central Bank of Russia
The Bank of Russia’s Department of Open Market Transactions has contracted FORS to develop and to deploy information systems to support stock market analysis as well as management accounting and financial accounting of transactions in the open market.
The stock market analysis system is designed to analyze stock market data and to process macroeconomic information for entire Russia. The analysis is based on three types of data: “stock market characteristics by segments and in general”, “analysis of auctions” and “analysis of stock issue history”. The system enables to analyze and to classify objects. The system for management accounting and financial accounting of transactions in the open market supports all necessary routine functions required to analyze accumulated information and to carry ad hoc analysis of multidimensional database
OJSC Capital-Insurance
A data warehousing project at OJSC Capital Insurance is aimed to improve corporate business intelligence and management performance through formation of consolidated information resources to build routine and analytical reports and holistic logical data presentation. The project outputs will enable to address a whole set of key challenges: to integrate data in a single place, to verify and to aggregate earlier disassociated detailed data, to automate report building, to support reconciliation and control of data available in various applications.
MBASK (Azerbaijan)
Deployment of a comprehensive information system to support operations of MBASK, an Azerbaijan insurance company, based on INSIS software (FADATA — a Bulgarian vendor). The system enables to automate all key business processes, including centralized insurance data entry, storage and recording, transactions made by insurer’s affiliates and local offices, integration with accounting systems, company-wide e-workflow, uninterrupted information exchange with affiliates, agencies and retail outlets, producing reports for government authorities and corporate shareholders.
