DOM.RF Bank and Diasoft Named Finalists of the Prestigious Banking Technology Awards 2020

  • Banking
  • 13.11.2020 10:53 am

DOM.RF Bank, one of the largest Russian mortgage banks, has been shortlisted as a finalist of the prestigious international Banking Tech Awards 2020 in the category “The Best Digital Initiative”. The Bank nominated a large-scale project for implementation of its own digital IT Platform based on the Digital Backbone concept, which is aimed to move the Bank’s housing finance and mortgage services to the fully digital environment.

The Digital Backbone concept is based on the use of modern technologies, omnichannel support and microservice architecture. Diasoft digital solutions make a constituent part of the Bank’s digital IT platform. In the result of the project, the Bank plans to move 90 % of its products and services to the digital environment, which is important for the comprehensive support of customer services and the Bank’s partner ecosystem.

“Implementation of digital services and a fully-fledged housing finance ecosystem is impossible without a technological platform. We created a concept of this platform, which is based the use of best-of-breed in-house and open-source solutions together with partner products. Joint development and code ownership, modern technologies and DevOps practices allow accumulating high capabilities inside the group and ensure quick integration of popular market solutions into the platform. We are glad that this approach has received wide acclaim and has been nominated for the international award,” says Mikhail Gromov, IT Director at the DOM.RF Group, Deputy Chairman of the Board at DOM.RF Bank.

DOM.RF Bank has dramatically improved CX in digital channels and created a foundation for the full transition of its customer services into digital. New capabilities which become available to the Bank’s customers with the digital IT platform and Diasoft’s solutions include access to the Bank’s services via partners with the use of public and private APIs, single-screen delivery of services, and ability to enjoy modern digital services and apps: digital onboarding via the mobile app, digital mortgage origination, digital issuing of mortgage certificates, digital opening of escrow accounts, delivery of bank services via the partner network. Implementation of the new IT platform will ensure further development of digital services for mortgage customers, project financing services for realty developers, public services and the partner ecosystem.

“Congratulations to DOM.RF Bank on making it to the final of the prestigious Banking Technology Awards, and good luck! Its place on the shortlist in the Best Digital Initiative category is well-deserved, as the digital transformation of one of Russia’s largest mortgage lenders is no small feat. By successfully implementing a new digital concept and platform – Digital Backbone – DOM.RF creates a solid foundation (excuse the pun!) for its future. The benefits are clear already: drastically improved customer experience, boosted automation, cost efficiency, flexibility to support new business requirements swiftly, and the wider reach across the housing industry nationwide,” commented Tanya Andreasyan, Banking Tech Awards Judge and FinTech Futures’ Editor-in-Chief.

DOM.RF Bank, one of the TOP 3 Russian banks by the mortgage portfolio (together with DOM.RF), solves strategic national tasks for improvement of the quality and affordability of housing by creating and implementing federal standards. The bank is a leader in implementation of digital services and a reference bank for the Russian financial institutions that operate in the housing financing and mortgage lending market.

“The project at DOM.RF Bank is a splendid example demonstrating that the use of flexible capabilities of the modern digital platform allows developing and launching a non-standard solution together with the customer within the shortest possible time. Our joint team mobilized their resources and took all necessary efforts to ensure the success of this important project. We greatly appreciate deep expertise and professional skills of the Bank’s IT team and are grateful for their trust and commitment,” said Alexander Glazkov, Chairman of the Board of Directors, Managing Director, Diasoft.

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