Rauf Rzayev: "CapitalBank signs contract with the I-flex"

As Trend reports, the tender was announced after the contract with the Indian company Infosys Technology was suspended. Contract costs $1.350m that will be used for the purchase of the central core and 12 modules.

According to the agreement, company will guarantee free support for 1 year and at a fixed payment rate during the 4 other years.

System will be launched in the head office and in 1-2 branch offices in October, other bank's offices will be added to the system later, Rzayev said. Considering that conversion of accounts, preparation of the branch office to accept the system and training of the staff will take some time. Tender is held within the frames BP credit for Financial Sector Technical Assistance (FSTA). 80.000 SDR ($1.2m) of which will be allocated to equip CapitalBank.

Another contract was signed with HP to maintain the bank apparatus. Best communication equipment, program maintenance, network equipment will be supplied to bank. Total cost of the project is $1.4m that will be paid by the bank itself.