GREEK POST SAVINGS BANK – Integrated banking information system

The Greek Post Savings Bank is one of the largest banking institutions in Greece, currently operating 135 branches and a large number of additional points of sale within the branches of the Greek Post Office Organization (where PROFITS® is also installed and operates). In 2000, the Bank issued an open tender in which the major local and international suppliers participated for the Design and Implementation of an Integrated Banking Information System. The Project was awarded to INTRASOFT International in 2002 and included two separate Phases:

Phase 1: The complete Design Study of the new Information System (logical and physical architecture, security and networking, equipment infrastructure specifications, etc).

Phase 2: The implementation of multiple applications that cover a wide range of advanced financial services, based on INTRASOFT International’ PROFITS® banking product that was adapted to the needs of the Bank. The implementation includes the following PROFITS® Subsystems:

  • Customer Management
  • Product Management
  • Deposits Cheque Management
  • Third-Party Payments
  • Credit Agreements
  • Loans & Collaterals
  • Funds Transfer
  • Foreign Exchange
  • Securities
  • General Ledger
  • Budgeting
  • Cost Allocation
  • User Security & Electronic Authorizations
  • Teller/Branch Support
  • Parameters Administration
  • Management Information System

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PROFITS® has been adapted to the Bank’s needs and will soon be deployed to offer the Bank an integrated customer-oriented environment with online real-time operations on a 24-hour basis, as well as the ability to use various alternative delivery channels, such as ATM, telephone, internet, etc. Its implementation greatly facilitates the transformation and modernization of the Greek Post Bank, enabling the launching of new and competitive products and services.

In addition, the Project included the implementation of a complete Dealing Room and Treasury System, a full Payroll & Human Resources Management solution, as well as the interfacing to various internal and external systems (i.e. the Greek Interbanking Organization and ATM switching network DIAS, etc) by INTRASOFT International who carries the total Project Management responsibility. Both the Dealing Room and Treasury System and the Payroll & HRM System are operational, ensuring complete front-to-back treasury operations with straight-through-processing, and payroll automation that complies with the demanding needs of the local regulatory environment.

The Project also includes the provision of multiple professional services by INTRASOFT International, such as training (analysis of users training needs performed in co-operation with KPMG), parameterization, data migration (both electronic and manual), full system deployment throughout the entire branch network, organizing and setting up a new Help Desk System, and providing operational support for at least 5 years.

Finally, INTRASOFT International was also responsible for the design of the Bank's new Accounting Plan, Financial Procedures and Operational Procedures, including organization and operational processes alignd with the new System.