OREANDA-NEWS. October 31, 2008. Sviaz-Bank’s Irkutsk branch has become to first bank in Sviaz-Bank’s regional network to launch a system to handle the flood of transfers flowing from corporations and self-employed entrepreneurs to the accounts of communication services providers, reported the press-centre of Sviaz-Bank.

The system has been deployed on the technological platform, CFT-Bank (developed by the Center for Financial Technologies), used throughout Sviaz-Bank’s network.

The transfer handling system helps automate the crediting of funds to the subscribers’ personal accounts. Its obvious advantages are shorter time it takes to process transfers, lower inputs of employees’ efforts, centralized account handling techniques, and an across-the-board approach to transfer handling.

The new system has already been wired to Baikalwestcom Pte., the biggest cellular communications operator in Irkutsk region. Judging by the current transfer flows, the total sum of transfers processed in a single month is estimated at 250 million rubles.

Plans are now developed to connect other willing communications operators to the bulk transfer handling system.