OREANDA-NEWS. July 15, 2010. JSC SITRONICS (SITRONICS or the “Group”) (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, announced that its SITRONICS IT division has won a contract to implement a universal banking solution Oracle FLEXCUBE in Prominvestbank, daughter company of Vnesheconombank in Ukraine.

The project has been initiated by Prominvestbank in view of active process of internal system modernization and business reengineering. SITRONICS IT possesses a unique for Ukraine expertise in banking sector, implementing IT solutions for such clients as Sberbank,VTB and Ukrsotsbank.

The project will be implemented in several stages during 2010-2012. The first stage provides automation of the bank’s retail activity in the whole network which is more than 600 physical outlets. During the second stage, a corporate banking business management system will be implemented. This project is expected to be one of the largest ever implementations of Oracle FLEXCUBE technology in Ukraine.