, a cloud operational system, developed with PrivatBank investment, to be presented at The Financial Services Club in London

Financial Service Club in London

Breakthrough Ukrainian IT-development – the cloud operational system Corezoid – will be presented at The Financial Services Club in London on Tuesday. Developers of the system, the main investor of which is PrivatBank, are going to show to representatives of foreign banks and companies how Corezoid can reduce costs for IT-solutions support and, most importantly, ensure rapid changes business processes.

“Curiously enough, the high level of IT-solutions’ penetration in business processes now hampers business development. Gartner reports that up to 80% of companies’ IT budgets are spent on IT infrastructure support rather than implementation of innovations” – says Sergii Danylenko, Corezoid Marketing Director. – “The main problem of modern companies is that changes in business processes take too long and are too expensive”.

The idea of a cloud operating system was born in PrivatBank, which is considered to be one of the most innovative banks in the world for a reason. While conventional banks solve their IT tasks by purchasing ready-made solutions, the implementation of which takes a long time and a lot of money, PrivatBank decided to go a completely other way. Oleksandr Vityaz, Deputy Chairman of the Board of PrivatBank and the chief ideologist of Corezoid commented: “We have been honestly trying to adapt products available on the market to our needs, but it was either long and expensive or too long and too expensive. As the result of these regrets, in 2005 the idea of a cloud operational system Corezoid (“zoid” means “life”) arose”. is a cloud operating system for companies’ business processes management. It allows users to build all business processes quickly based on a modern digital core. Such transfers need a minimum of developers and even ordinary managers without programming experience can support a new system and modify the business processes.

The Financial Services Club is an international community of top managers of banks, insurance companies, technology firms and consultancies that unites leaders of the sector around the most advanced developments and financial technologies. Hundreds of professionals interested in future of the financial industry take part in events of the organisation. The Financial Services Club holds over 50 events a year, in a number of different European countries, with keynote speakers and luminaries from the industry airing their views on the future of financial services.