The integrated banking system of Karafarin Bank has fully and simultaneously migrated to Dotin Core. This migration took place on the threshold of Dotin’s 12th anniversary, on the 21st and 22nd days of the month of January, 2024, encompassing data in the fields of resources, expenditures, and currency.
According to Iran digital economy annotation, this is the second time that the bank has completely changed its credit card. With the completion of the migration of credit card company to credit card Dotin, the number of banks that use credit card of this company has reached 7 banks. Before the Karafarin, Sep Bank migrated to core Dotin, now almost 2 years later, Dotin increased the number of its customers.
According to Dotin, this migration was done in a short period of 10 months
Hamidreza Amuzgar, member of the board of directors and vice president of product development of Dotin, told the company’s public relations in this regard: “This project involves the migration of all bank data and services in the fields of sources, expenses, cards and currency to Dotin’s comprehensive banking solution in a short period of time.
10 months is a new record for Dotin company. In addition, in this project, Dotin provided a wide range of banking infrastructure services in the form of API, which can be considered a new example of providing a platform for providing modern banking services for the formation of an Karafarin neo-bank.
This project started intensively at the beginning of this year and after going through the stages of gap analysis, localization, infrastructure preparation and system deployment and user training, it was finally completed with data migration and full operation on January 12.
In order to reduce possible risks, the bank services were interrupted on Thursday evening, January 21st, and the process of data extraction and migration to new systems started. At the same time, the final deployment operation and connection of the new systems to Shetab, Satna, Paya, Chakawak, Sayyad, Nahab and other systems of the central bank were carried out until the evening of Friday, January 12, and by re-establishing access to the bank’s services at this time, the customers of the Bank of Karafarin were able to Receive banking services this time on Dotin systems.
With the addition of the Karafarin Bank to Dotin’s customer base, the number of ATMs connected to Dotin’s banking systems has reached more than 14,000, and 65,000 bank colleagues in 6,000 branches across the country use Dotin’s Core banking to provide banking services every day.
According to the latest report announced by Dotin, more than 20% of the market share of transactions and branches is available to this company, and during the last 2 years, the amount of these transactions has grown by 11%.
According to Dotin, 8 million Internet Bank users and 14.8 million Mobile Bank users use the services of this company in their banks.
Dotin, now on its 12th birthday, has been included in the group of companies providing banking services that have put financial inclusion on their agenda, and for the past 2 years, focusing on this sector, they have tried to provide more services to their users in different places. For this purpose, the country has opened accounts for 3 million users through Wepod in 12,000 cities and villages.
During this period of activity, this company has tried to serve a part of the society that until now was not able to receive banking services, especially credit services, and was able to pay almost 9 thousand billion tomans in microfacilities.
So far, this company has provided about 42 different products and services to its customers in different sectors, including banking and insurance solutions.
But now Dotin is about to turn 13 years old, he will face a new challenge because due to the saturation of the core banking market, he has to create new markets for himself and henceforth, he will no longer rely on the core banking service to grow and be profitable.
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