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Why is this necessary?

Posted: Thu Jan 23, 2025 8:59 am
by tanjimajuha20
OOO "Fazum" is a Russian microservice IT platform that contains more than 300 services and allows you to automate banking business processes, including CRM and customer acquisition, credit and guarantee processes, account opening processes and provision of additional banking services, factoring, leasing, document flow and electronic archive, a full cycle of work with electronic signatures, document recognition and much more. According to the company, its solutions have been implemented in more than 20 Russian banks.

In 2022, the company earned RUB 280.8 million in net profit with revenue of RUB 684.6 million. The growth in profit compared to 2021 was 141.2%, revenue - 76.8%.

A representative of PJSC Rostelecom said that the investment is part of the strategy to expand the company's presence in the market of cloud digital solutions for financial organizations and businesses. The deal will take place in two stages and should be completed by the end of 2023. The provider will receive ivory coast whatsapp resource 51% of Fazum. At the same time, the team, including top management, will be completely preserved. "The Fazum company will retain its autonomy in Rostelecom Group, the asset holder will be Rostelecom's 100% subsidiary, KommIT Capital LLC. Thanks to this purchase, we expect to take at least 25% of the market," a representative of the company's press service told ComNews.

According to him, the market for solutions for automating business processes in banks and financial companies is undergoing a transformation, which is associated with active import substitution of foreign vendors leaving the market, as well as high demand from banks for cloud infrastructure due to its shortage. "In the next three to five years, sales of Russian software are expected to grow fivefold, and even higher growth rates in the segment of cloud financial solutions for the banking segment. The partnership between Rostelecom and Fazum is a response to current market trends," Rostelecom said.



Vice President - Director for Development of New Digital Products of Rostelecom Denis Ryabchenkov noted that the purchase of a controlling stake in Fazum was a logical continuation of the strategy for forming a portfolio of digital products aimed at the financial sector and banks. "A few months ago, we acquired Fuzzy Logic Labs, a leading company in the Russian market of anti-fraud systems for banks in terms of the number of processed transactions. In the future, we plan to strengthen our presence in the market of digital services for the financial sector, as well as develop new digital products in related areas, such as retail, e-commerce, logistics," said Denis Ryabchenkov.

Rostelecom's Director of New Digital Products Dmitry Reidman believes that investments in Fazum will strengthen the company's position both in the fintech solutions market and in related sectors of the economy that are experiencing the need for import substitution and the launch of new digital solutions. "Together with Fazum, we will be able to quickly launch new cloud services for the financial sector and scale up the distribution of digital financial products to small and medium-sized business clients."