Financial institutions are transitioning from their existing knowledge management systems.
VTB Bank, serving over 26 million active retail clients, has recently implemented a new domestic knowledge management system to improve its domestic operations. The change was announced by Nikita Rybachenko, head of the department for technological development of the bank's public systems.
The replaced system, which was used by over 53,000 employees, has been substituted with a Russian solution designed to provide a single entry point for VTB's employees to search for accumulated bank knowledge. The new system contains detailed information about products, services, and procedures, ensuring prompt access to information and more timely responses for employees.
The switch to a domestic solution is part of Russia's import substitution strategy, a government initiative aimed at replacing foreign software with Russian alternatives across various sectors. This shift could potentially enhance data security and compliance with local regulations.
The simplified knowledge base structure of the new system facilitates faster onboarding of new employees at VTB, making the transition smoother for new hires. The system update is particularly important for VTB's employees who work with clients daily, as it improves the speed of client service.
The new system is expected to increase productivity for VTB's employees, although specific data on this improvement is not yet available. Yulia Kopytova, head of the department for analysis, coordination, and product development, emphasized the importance of the new system in enhancing employee efficiency.
The bank's press service reported that the system change has ensured seamless service for all employees, and there have been no reports of quality issues in the work performed by VTB's staff since the update.
This shift towards a domestic knowledge management system is in line with broader trends suggesting that such a move could have significant implications for productivity and client service, depending on the system's quality and implementation. As VTB continues to adapt and grow, the new system is set to play a crucial role in the bank's operations.
- The newly implemented domestic knowledge management system, designed for VTB Bank's employees, is expected to enhance employee efficiency in finance, business, and technology sectors.
- This Russian solution, integrated into VTB's operations, aims to provide a single entry point for bank knowledge regarding products, services, and procedures, thereby fostering timely responses and improving client service in the technology-driven financial business.
