Gazprombank and T Plus, Russia's largest private heating and electricity generation company, have launched mutual settlements based on the integration of the Transit 2.0 platform run by National Settlement Depository (NSD) and the SAP system.
Transit 2.0 is an IT solution designed by the National Settlement Depository (NSD) to transmit financial messages between banks and corporations which is in high demand by Russian companies. For the first time in the platform’s operation period, it has been implemented by integrating it with the SAP ERP system. This will allow treasury division employees to quickly monitor interactions with banks via the unified traditional interface and to conduct straight through business processes from inputting a payment instruction in the system to having the bank perform a payment.
Yury Migachev, Head of the Treasury Transactions Division, T Plus, pointed out: “For our company, managing payment discipline and increasing the effectiveness of operating processes are one of the treasury’s development strategy priorities. Under this strategy, standardizing interactions with banks is a crucial task which we have always striven to accomplish. Owing to the Transit 2.0 platform, we can now work directly via the unified interface with all banks connected to it. The deep integration of the platform with our SAP ERP system is an additional value of NSD’s solution.”
Andrey Korolev, Executive Vice President, Gazprombank, added: “Developing remote banking services is one of the key areas of our transaction banking business. Gazprombank pays special attention to implementing the newest digital solutions for corporate clients which contribute to increased effectiveness of processes. Meanwhile, there are clear trends for standardization and digitalization in the industry. Another example of these trends’ existence is the integration of corporate systems (ERP) with bank systems. Transit 2.0 allows T Plus’s treasury division to unify the channel for exchanging information with all banks and to increase its operating effectiveness. Understanding the importance of this task for the company, Gazprombank has made every effort to implement the necessary solution as soon as possible. Gazprombank will continue to develop new products and solutions to address our clients’ needs, the newest technologies, and market trends.”
Alexander Nam, Managing Director for IT Services, NSD, said: “The Transit 2.0 platform is intended to simplify the automation of corporations’ interactions with settlement banks. This is a universal channel to exchange information remotely with banks; it provides for convenient and simple interactions between participants. While NSD solves technical problems, corporate treasuries can focus on financial issues.”