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IT Co. Completes Evaluation of Costs and Expansion Risks for Industrial Construction Bank's (PSB) Computing System in St. Petersburg

23.03.2005

IT Co. has completed its evaluation of costs and risks involved in Industrial Construction Bank's (PSB) expansion strategies for its automated banking system. The project was completed in two months by IT Co.'s northwestern branch consultants.

As of today, Industrial Construction Bank (PSB) is one of Russia's major banks, rated on Fitch's scale directly behind state-owned banks and banks with foreign capital. PSB's regional network includes 53 branch offices in 37 Russian cities.

PSB's growing branch offices network and rising requirements for business stability and continuity have necessitated an upgrade of the bank's existing computerized system's infrastructure. To determine the best strategy for system expansion, the Bank's management decided to conduct a comparative evaluation of several possible architecture upgrade alternatives. Consultants from IT Co.'s northwestern branch were contracted for these purposes, working together with the bank's automated service specialists.

In the course of the project, IT Co. consultants meticulously audited the existing banking system infrastructure, and made a comparative evaluation of the following factors for all expansion alternatives:
  • Direct and indirect costs
  • Existing risks
  • Reliability of information presentation in the automated banking system
  • System security from attacks
  • Project costs with consideration for risks
  • Evaluations were performed using RM Gartner Group Total Costs of Ownership and risk management evaluation methodologies.
Based on the audit results and on cost and risk models of the architecture upgrade, IT Co. consultants developed recommendations aimed at:
  • Enhancing quality and lowering system maintenance costs
  • Perfecting each alternative strategy for expanding the infrastructure of the bank's automated system
  • Striving to create maximum effect with the upgrades

About Industrial Commercial Bank
Industrial Commercial Bank (PSB) was founded in St. Petersburg in 1990. The Bank offers the entire range of commercial and investment services for private individuals and legal entities and maintains 53 branch offices in 37 Russian cities. As of October 1, 2004, PSB's shareholder's equity totaled RUR 7.12 Bn, its credit portfolio was at RUR 51.41 Bn, assets at RUR 80.18 Bn, and Q3 balance sheet profit exceeded RUR 2.55 Bn, outpacing the same figure for 2003 by 28.8%.

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