OREANDA-NEWS. MAYKOR won the 4th annual award "Time for Innovation 2014" held by the Social Projects and Programs fund and supported by the Russian Ministry for Economic Development and Ministry of Communications and Media. Established in 2014, Russia's largest Repair Center was recognized as the Project of the Year in the banking service market.

The Repair Center was established in August 2014 as part of a merger of MAYKOR banking equipment repair resources and BTE group. The Center is unparalleled in Russia, both in terms of scale and the array of services it provides. By presenting an alternative to the foreign maintenance services it solved an urgent issue on the banking equipment repair market. The "Time for Innovation 2014" award demonstrates the impact that the Repair Center has on reducing our need for foreign expertise in the service sector.

Maksim Nikitin, Senior Vice President at MAYKOR and Managing Partner of BTE, noted: "Import substitution is one of the main trends of this year, touching upon virtually every economic sector and driving innovative initiatives. If we look at innovation as a way of improvement, the establishment of Russia's largest Repair Center on the basis of MAYKOR-BTE represents a fundamental transformation of the banking equipment service market. It facilitates the development of Russian expertise and reduces our dependency on foreign manufacturers."

The Center possesses the necessary expertise to repair even the most complex components and spare parts. Its capacity allows it to restore more than 35,000 banking hardware parts per year produced by any manufacturer. The Center also operates a unique laboratory dedicated to researching the causes of malfunctions on its premises. Thanks to this laboratory, MAYKOR-BTE is able to help its customers anticipate and avoid more than a 1,000 defects by utilizing special preventive measures. Preventive service and the ability to restore worn out parts reduce the banks' operating costs by an average of 30% while increasing equipment service life. Looking back, last year MAYKOR was nominated for the "Management and organization innovation of the year" award for the automated system of continuous control over service activities that it developed.