Making swift calculations, storing and processing large amounts of information, ensuring high level of service in information sector, and providing for flexible and operative management of resources, are among the main objectives that modern financial and economic organisations expect of information systems.
All latest trends and swings in the development of world banking information systems find their reflection in the Uzbek banking sector as well. The journalists of UzReport Information Agency delved into the current information technology infrastructure of the National Bank for Foreign Economic Activity of the Republic of Uzbekistan.
The National Bank for Foreign Economic Activity of the Republic of Uzbekistan offers a wide spectrum of services both to businesses and to individual clients. Automated Banking System (ABS) T24, functioning in the National Bank, allows for swift control of its resources and branches, concentrating the funds in necessary regions. It should be noted that the National Bank integrated the system in 2004, well ahead of many CIS countries.
“Today, the system’s flexibility allows us to extend its functionality with regard to current requirements of the National Bank of the Republic of Uzbekistan. In 2010 the programme was updated so that it could ensure centralised online work, which answers international standards. ABS T24 has had SWIFT system fully integrated in its code. In addition interfaces to other payment systems have been developed. One ABS T24 system maintains many branches and subsidiaries, securing coordination with foreign branches,” - says Djamshid Usmanov, the specialist of Information Technologies Department of NBU.
As the experts of the National Bank noted, the information system of this financial institution is aimed primarily at ensuring high quality of inter-banking relations with financial organisations of the world. It is also the system’s priority to offer top-end services to the clients within the republic.