The Funds’ first investment in telecommunications was made in 1994 in FGI Wireless (which eventually became today’s Vimpelcom, one of Russia’s largest mobile telephony operators). The company was a pioneer in cellular network development in Russia. Since 1994, Baring Vostok funds have invested over $850 million in 30 companies in the internet, software, media, and telecommunications sector.
Center of Financial Technologies

Center of Financial Technologies

Leader in software solutions and processing services for financial and credit organizations in Russia and the CIS.
Novosibirsk/Moscow, Russia
Year of the first investment:
Size of share holding:
Large minority

The company’s leading position is a result of 20 years of experience on the market, and of the development of the software and processing sides of the business at the same time, as well as taking innovative approaches to offering computer support to banks. More than 500 financial institutions in Russia and the CIS are clients of the company. CFT is the leading Russian software developer for the financial sector, and one of the top five Russian companies to develop its own software. The company has for some years now enjoyed annual rates of revenue growth well above the market average, at around 30 per cent per year.

CFT is among the leading companies providing software for the investment industries and processing services across Russia and the CIS. Baring Vostok Private Equity Fund III became a shareholder of the company in 2006.

Development stages:

  • Developing and strengthening a leading place on the market of automated banking transactions.
    In 2009, the company implemented a high-capacity technology platform for the centralization of banking transactions, for which there was particular demand from federal banks with multi-branch networks.
    In 2011, the company moved to a new model of how to work with financial institutions, and began to develop applications that focus on solutions to specific business problems. Banks order these applications from a catalogue of options.
  • Growing the company on the processing market, including money transfer services, pre-paid cards, transport and social cards, Internet banking and utilities payments (the [Sistema] Gorod federal system). The money transfer service was implemented in the retail chain Svyaznoy in 2009. The Golden Crown (Zolotaya Korona) service is now available in more than 8,000 outlets of Svyaznoy, Evroset and MTS and also in more than 12,000 bank branches across Russia and the CIS.
    In 2010, the company began the production of prepaid cards (jointly with Evroset), and demand for them has grown rapidly.

Other projects


23 January 2018

CFT supports banks in complying with SWIFT CSP security requirements.

In 2017, CFT was included in the Directory of Cyber Security Service Providers accredited for implementation of the SWIFT Customer Security Programme. The company started implementing the projects on attestation and analysis of the connection security of the financial institutions’ IT infrastructure to SWIFT.
16 November 2017

CFT in TOP-3 in CNews Analytics Rating.

CNews Analytics agency has published its annual review "IT in Banks and Insurance Companies", which includes a rating of major bank IT suppliers. The rating is based on the results of the activity of market participants in 2015. Center of Financial Technologies remained second in the rating of Russia's major IT developers.
15 June 2017

CFT in TOP 3 Russian Software Developers.

RAEX rating agency has published the rankings of Russia’s major IT groups and companies based on the activity results of 2016. CFT occupies the second place of the ranking in the category ”Software development”.
29 May 2017

TKB Bank transfers to a new core banking system, CFT-Bank.

Transkapitalbank has successfully completed the project of implementation of CFT-Bank banking information system in its IT infrastructure. One of the targets of IT modernization was cost optimization of the maintenance of siloed core banking systems by transferring to a single technology platform.
13 September 2012 has been acknowledged the fastest Russian federal internet provider.

According to Net Index , telecom operator is the fastest federal internet provider in Russia. The average internet speed that provides to its Subscribers in 42 cities of presence amounts to 35 Mbit/sec., which is more than two times higher than the average internet speed in Russia (about 16 Mbit/sec.).

22 August 2012 offers a new format for services consumption – the HD.

Telecom services operator launches new bundled offers in all the 42 cities of presence, comprising the basic telecom services – high-speed internet, cable and HD TV, and telephony. The key characteristics of the bundles are the utmost speed of internet access (up to 100 Mbit/sec around the clock) and the highest number of HD channels in the basic TV package among digital TV operators (23 channels), which enables the company’s Subscribers to consume high-quality HD content in the most convenient manner – with the help of a TV set or in the internet from any video-supporting mobile device.