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.