VEB issues core banking system tender
Russia-based Bank for Development and Foreign Economic Affairs (VEB), a state-owned development bank, has issued a tender for new core banking software.
VEB is a long-standing user of the CFT-Bank system from a domestic supplier, Centre of Financial Technologies (CFT), Banking Technology understands. CFT is expected to take part in the tender.
The tender is likely to be limited to those software suppliers that have on-the-ground presence in Russia.
The deadline for submitting the documents in 24th January 2017.
The maximum cost of the contract is RUB 283.4 million ($4.74 million).
VEB says it “operates to diversify the Russian economy, boost its competitive edge and encourage the inflow of investments”.
It does not compete with commercial credit institutions and participates only in those projects that are not capable of receiving private investors’ financing.