VTB has completed a project for Allianz Group insurance company ROSNO-MS in the area of centralizing treasury management operations.
The project was conducted by VTB's Global Transaction Banking Department for ROSNO-MS, which handles mandatory and voluntary medical insurance. The company is one of the largest in Russia.
The project helped ROSNO-MS enhance its operational efficiency at branch offices around the country. It also focused on the receipt of detailed cash flow statements and the monitoring of debit transactions at branch offices in line with its budget classifications.
VTB created a centralized accounts management system for the company connecting it with the bank-client system. It also centralized efficient treasury functions at the company's headquarters, where VTB also helped to split the functions of the financial controllers. Additionally, it implemented various tools for managing treasury operations, giving ROSNO-MS online access to branch accounts.
The project increased efficiency and reduced operational risk.
"VTB hopes to maintain and further develop its long-standing partnership with Allianz Group. We are ready to continue providing cutting-age and relevant banking products for liquidity management," Gurinder Nihal, VTB's senior vice-president and head of global transaction banking, said.
- National Bank of Ukraine removes restrictions on foreign-currency transactions, investment metals
- Black Sea Trade & Development Bank visits Azerbaijan to boost business relationships
- VTB Bank finances three new planes for SunExpress airline
- National Bank of Ukraine makes it easier for businesses to invest abroad
- National Bank of Ukraine eases lending regulations for deposit guarantee funds to other banks
- Black Sea Trade and Development Bank, Russian Federal Corp. for SMEs support business growth
- Oleg Demidov named commercial director for Rosbank Factoring
- Eurasian Development Bank sells bonds on Kazakhstan Stock Exchange
- EY World Entrepreneur of the Year event to name world's top entrepreneur
- ACBA-CREDIT AGRICOLE, Microsoft parter for Armenian digital business technology seminar