OREANDA-NEWS. July 12, 2010. Russian Standard Bank, one of the largest banks in Russia, continues to improve the complex of services rendered to the population, gradually expanding the capacity of the Money Transfer System Integrator developed by experts of the CyberPlat® payment system and utilized by Russian Standard Bank. Features of this service allowing simultaneous operation with many money transfer systems have been complemented by connection of systems Allure, Bystraya Pochta, and MoneyGram®. This tool enables Russian Standard Bank to carry out transfers in the majority of money transfer systems using a single interface. At present, the Money Transfer System Integrator (MTSI) installed in the Bank’s operating cash desks enables operation in 8 (eight) Money Transfer Systems: Allure, Anelik, Asia-Express, Bystraya Pochta, InterExpress, Leader, MoneyGram, and Unistream. Only one agreement is used - the Agreement on connection of all above-mentioned Money Transfer Systems concluded by the Bank with Platina Bank Ltd. and CyberPlat OJSC.

Build-up of the partnership network for making money transfers is an important element in implementing the Programme for developing a complex of settlement services of Russian Standard Bank. The use of MTSI significantly enhances capabilities of the customers living in Russia, CIS countries and abroad to send and receive transfers. Thanks to increase of the number of transfer systems in the MTSI, the number of outlets where the Bank's customers can send money transfers, increased by more than 200,000 units in 190 countries around the world,"- stated Vladimir Pyshnyi, First Deputy Chairman of the Board, Russian Standard Bank.

Implementation of MTSI considerably reduces the costs of the money transfer business and increases its profitability.

The use of the Money Transfer System Integrator allows banks to increase profitability in the sphere of money transfers tenfold – due to at least a threefold cost reduction and at least a threefold increase of the client base coverage. Our solution allows to use the “single window” and operate a variety of most popular systems while leveling down the qualification requirements to the personnel,” – stated Andrey Gribov, President and CEO, CyberPlat OJSC.

The operation on sending and payment of money transfers in Russian Standard Bank using MTSI meets international standards of customer service quality. When making a money transfer, the sender selects the country or a specific point where the recipient will be able to collect the funds received in his name. The time required for the money transfer is less than 10 minutes depending on the transfer system specified by the sender and the destination of the transfer. The identification is performed using the recipient’s identification document and a unique alphabetic or numeric code that is communicated to the sender while making the transfer. Money transfers are made in rubles, U.S. dollars or Euros and the sender can use the MTSI to carry out automatic conversion of the transferred funds into the required transfer currency.

The money transfer service is currently available in 55 operation offices of Russian Standard Bank.