Home News & events Press Releases 2014 Center-invest Bank offers consumer loans via ATMs utilising Compass Plus technology


bank centre invest enCenter-invest Bank offers consumer loans via ATMs utilising Compass Plus technology

Center-invest Bank has announced the launch of the “0.07% Loan” program with support from Compass Plus, a unique product that enables bank customers to obtain a loan via an ATM.

Under the program, a Center-invest Bank payroll cardholder can apply for a loan in minutes via an ATM using its intuitive menu. The loan amount is calculated individually for each customer taking into account their financial history; the minimum loan amount is 3,000 RUB (approximately $80), the maximum amount is 30,000 RUB (approximately $800). If successful, the customer then receives the cash immediately at the ATM.

As a standard consumer loan, the product offers very attractive terms in comparison to popular non-bank loan programs – the base rate is 25.55% per annum or 0.07% per day. Yuri Bogdanov, Deputy Chairman of the Board at Center-invest Bank, said: “The new product is a civilised alternative to other quick-decision microloans. Loans via ATMs not only protect our customers from various pitfalls of microloans, but also help save their time by reducing the process of filling in the loan application and its review.”

To implement the innovative service of consumer loans via ATMs, Compass Plus has enhanced its TranzWare CMS product. TranzWare CMS enables the implementation of business logic for banking products, such as flexible commissioning, fee and interest calculation and account management. The system also provides online interaction with TranzWare Online, the front-office system of the processing center, including interaction with terminal devices and remote banking systems.

TranzWare Online Algorithmix was utilised to develop the  scenario that enables the registration and issuance of the loans via ATMs. The versatile module offers extensive scripting functionalities which enables efficient management of transaction attributes and the implementation of a wide range of tasks for the card business, such as the implementation of complex multi-dimensional tariffs for card products, the implementation of non-linear ATM scenarios, fraud detection and prevention, interaction with third-party systems, etc.

About Center-invest Bank:
Established in 1992 in Rostov-on-Don, Center-invest Bank is the largest regional bank in southern Russia. Center-invest Bank provides a wide range of banking services to individual customers and businesses in the region in accordance with international standards.
The bank’s shareholders include the European Bank for Reconstruction and Development (27.45%), German Investment and Development Corporation DEG (22.45%), and Erste Group Bank AG (9.80%) amongst others. Center-invest bank has 135 branches and offices in Rostov and Volgograd regions, Stavropol and Krasnodar territories, as well as offices and a representative office in Moscow.



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