Cinimex Improves Position in the Ranking of the Largest IT Suppliers in Russian Banks


Cinimex ranked 12th in the TAdviser ranking of the largest IT suppliers in Russian banks for 2022, moving up three positions compared to the previous year's results.

Along with the ranking, the analytical agency TAdviser published a review titled 'Digitalization of Banks' with comments from Andrey Sykulev, the CEO of Cinimex, on barriers and opportunities on the path to import independence, digitalization priorities, and key innovations.

According to the review, the Russian financial sector has generally withstood the recent upheavals quite sturdily. Despite sanction pressures and a temporary economic downturn, banks implemented almost all planned digitalization activities in 2022 and continued to invest in IT development in 2023.

By the end of summer and early autumn 2022, the market returned to orderly movement, emphasizes Andrey Sykulev, CEO of Cinimex. It became clear that despite the hit taken, both sectors - fintech and IT - are alive.

'Frozen' budgets and development projects started to thaw. Moreover, there was a realization that things would not return to how they were before, and that a large-scale and prolonged effort to replace a huge amount of software and hardware lay ahead. At the same time, the IT industry received unprecedented support from the state, which in many cases allowed businesses to not only survive but also to create a solid foundation for development. The year 2022 was not only about extraordinary solutions in an emergency but also a time of recognizing emerging challenges and new opportunities across almost all IT directions," states Andrey Sykulev.

The full ranking of companies and the 'Digitalization in Banks' review can be viewed at the link.

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