Erste Bank, a leading Austrian bank, has undergone rapid growth in Eastern Europe in the last few years by acquiring some 10 banks in countries such as Slovakia, Czech Republic, Serbia, Hungary, Ukraine, Romania and Croatia. While, its member banks now have excellent opportunities in expanding markets, in some cases they also face Euro transition challenges.

Peter Weiss, head of Group IT functions, Erste Bank comments: “After an extensive selection process, we chose Finantix as the vendor with the most compelling offering. Its technology combines the right balance between flexibility and reuse, with the front-office processes built on a solid and proven architecture. We are looking forward to continued success with Finantix.”.

Finantix’ technology provides local banks the ability to tailor their banking processes to specific market requirements. Finantix will enable Erste Bank to support its business objectives across the group building upon the existing investment made into back-office solutions and without compromising on country business differentiators and time to market constraints. With Finantix technology, Erste Bank will be able to handle both the immediate Euro accession requirements and the ongoing market driven demands.

Finantix’ component-based J2EE flexible technology can be implemented in multiple ways depending on the requirements of each bank. Erste Bank has opted for a pre-defined solution which includes the following modules: Teller and Banking, Consumer and SME lending, CRM and Marketing for all retail channels.

Finantix offers a full suite of front office retail components that include content and workflows. Finantix components can be implemented on a line-of-business approach or as full solutions. Different components can be bundled together to create a plug and play environment ensuring quick implementations.

Alessandro Tonchia, strategy director, Finantix comments: “In retail banking the demand for a physical branch network is high. At the same time, banks aiming to transform their branches from cost into profit centres by offering advice-led sales and services. We are proud to support Erste Bank in its international expansion plans helping it to compete effectively and increase market share. ”

About Erste Bank Group:
Founded in 1819 as Erste oesterreichische Spar-Casse, Erste Bank is one of the largest financial services providers in Central and Eastern Europe, in terms of customers and total assets. Erste Bank’s customer base has grown from 600,000 to 15.9 million in seven years through its growth in Austria and its expansion into Central and Eastern Europe, where it as so far acquired 10 banks. Nearly 13 million of its clients live in Central and Eastern Europe.

Erste Bank’s business model benefits form a unique growth in the CEE region where it aims to provide its customers with a high standard of personal service and a comprehensive range of financial products.

For more information on Erste Bank Group, please visit its website at:
www.erstebank.com.

About Finantix
Founded in 1994 with a history in wealth management, Finantix (www.finantix.com) is an established provider of component-based front-office retail solutions to over 50 banks in 19 countries worldwide. With over 100 developers, Finantix invests some 30% of revenues in R&D. Its proven pedigree, combined with an application architecture approach, ensures it is at the very forefront of multi-channel banking. In choosing Finantix, retail banks can attract new and profitable customers, provide a more effective customer service that boosts cross- and up-selling opportunities and establish a strong multi-channel connection to all its customers.
Headquartered in Venice, Italy, the company has nine offices across Europe and Asia and boasts a raft of longstanding blue-chip clients.


For further information please contact:
Finantix
Email: sales@finantix.com