The Russian banking company Soyuz Bank has agreed to use core processing software from Misys PLC as part of its expansion strategy.
The London banking technology provider said last week that Soyuz, a Moscow bank, would use its Trade Equation and Trade Innovation applications.
Soyuz is one of Russia's top 30 banks and claims to be one of the fastest-growing financial companies there.
Misys has been providing core banking software in Russia since 1992, which the company said is longer than any other foreign vendor.
"There has been an explosion of growth in the whole of the Russian banking sector recently," Guy Warren, a Misys executive vice president and the general manager of its banking unit, said in a press release. The country is "a very important market for us as we continue to focus on high-growth regions as part of our business strategy."
