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Credo Bank

JSC Credo Bank (Tbilisi, Georgia) and Foranx LLC are pleased to announce the successful completion of Temenos Transact core banking system Upgrade project from R14 to R22 release with simultaneous migration from JBase to MS SQL database and transfer from TAFC to TAFJ platform.
The project was carried out with the participation and support of Foranx LLC during 8 months for all subsystems of the Bank.

The following works were performed as part of the project:

  •  technical upgrade of the system;
  •  data conversion programm adoption from Jbase to MS SQL;
  •  analysis and adoption of Bank local developments according to R22 TAFJ and MS SQL requirements;
  •  parameterization and update up of all interfaces with external systems;
  •  optimization of regular reporting export.

CIO of JSC Credo Bank, Alexander Kumsiashvili said:
“Our upgrade project seemed complex and challenging, but we were able to achieve all our goals in time and budget. We believe that upgraded system will allow us to reach a new level of service essential for our business development and extension. We would like to thank Foranx company for its outstanding support throughout the process. The right choice of partner was a key to our overall success.”

About Credo Bank:
Credo Bank is a European values-based bank jointly owned by the financial institutions of EU member states. With over 20 years of successful experience in the financial sector, it is ranked fifth in Georgia’s banking market by both loan portfolio and assets.
Credo Bank offers its customers a wide range of banking products and services including retail and corporate lending, payment cards, accounts, deposits, money transfers, digital products, and more. The main goal of the bank is to empower Georgia’s micro, small, and medium-sized businesses to build better futures by offering them accessible financial services.
Commitment to continuous development, strong social responsibility and high quality services are the cornerstones of the Credo Bank’s success.

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