Tetiana Putintseva, Chairperson of the Board at COMINBANK

 

 

Due to the aggressor’s attempts to destroy Ukraine’s energy system, the National Bank of Ukraine has recently provided recommendations to commercial banks on servicing citizens in case of a blackout. These include:

• providing duty branches with additional equipment and increasing the number of self-service machines (SSM) and ATMs in them;
• development of the action plan to ensure staff access to duty branches, as well as extension of the validity of payment cards that expire in the current and next months for at least three months;
• if technically possible, providing free Wi-Fi to visitors of duty branches;
• considering the abolition of commissions for receiving cash from payment cards of other banks at the cash desks of duty branches.

Will the banking system survive the new war challenges?

Since a massive missile attack on November 23 this year, which caused a day and a half long blackout in some cities and capital districts, commercial banks have been trying to prepare for probable longer power outages to the greatest possible extent. Firstly, it is about optimizing the work of existing branches while maintaining the maximum service range, the efficient operation of the head office, the creation of a backup office and cyber protection.

In this regard, commercial banks provide the maximum number of branches with backup power sources (with mandatory Internet access), and strengthen security measures for customers and employees.

Certainly, in case of a complete blackout, each bank has its own algorithm of actions. However, we can single out general anti-crisis measures for the vast majority of banks. For example, the optimization of the work schedule of branches (possible relocation of some employees to other branches), the maximum safety of employees and citizens, the safety of the cash collection process, the uninterrupted operation of ATMs and their timely cash replenishment, the policy of conveying important information about any changes in the operating mode, the provision of drinking water. Moreover, anti-crisis measures should include actions in case of a possible customer increase and ensuring comfortable conditions for them.

Currently, it is quite difficult to predict the duration of further blackouts. Nevertheless, financial institutions are preparing for 5-10 “dark days”. Despite such a long period, most of the branches will work in the largest cities of Ukraine such as Kyiv, Lviv, Odesa, Dnipro and Kharkiv. Surely, a small number of branches will temporarily adjust their work (depending on location, daily quantity of customers, etc.). According to various estimates, such forced temporary measures in the largest cities (mainly in regional centres) with an extensive banking system will be nothing but local.

Despite possible blackouts, it is not a question of a global “conservation” of the banks. Quite the opposite, banks are able to quickly adapt to new conditions and aim not only to retain qualified staff by temporarily transferring some of the employees to other branches where the number of visitors is expected to increase, but also to provide them with better working conditions.

I also want to note that, according to the NBU recommendations on additional measures to ensure continuity of operations in the context of temporary restrictions on electricity supplies, COMINBANK is taking the following measures:

·  installation of uninterruptible power supply units for the full-fledged work of branches during the day. Moreover, a list of branches that will work uninterruptedly has been determined.

· provision of Data Processing Centres (DPC) and a Contact Centre with backup power sources (generators). Successful testing of hardware devices and computer equipment working on alternative power sources has been carried out already.

· use of several alternative communication channels for critical areas of work.

· introduction of an additional reserve head office outside Kyiv.

Up-to-date backup of critical information systems, in particular, copying data to servers in several main data centres in Ukraine and in a European data centre. Work is underway to create a virtual office based on a foreign backup server.

· The issues of transferring workers to duty branches and their work support are being resolved on an on-going basis.

· Optimization of the work of duty branches in case of a significant increase in customers (in particular, this concerns an increase in the number of self-service machines for visitors (SSM) and ATMs).

· Prolongation of validity period for the cards that expire in November and December 2022.

According to the market representatives, possible blackouts will not interfere with the normal operation of the Ukrainian banking system. After all, the anti-crisis work of banks does not stop for a single day. We are well aware of the customers’ needs and try to satisfy them to the maximum extent possible.