International Business Machines Corp. and Systematics Financial Services Inc. won a multimillion-dollar contract to automate the Savings Bank of the Russian Federation, Moscow City Office, Moscow.
The government-owned institution is the largest consumer bank in Russia, with 760 branches serving 20 million accounts.
As part of an investment in technology, Moscow Bank will convert its core business activities to Systematics' retail banking software.
The software runs on IBM mainframe computers, which the Russian bank will begin installing in the third quarter.
