Asters Advises PRAVEX-BANK on Agreement with IBM

Asters counseled PRAVEX-BANK regarding long-term agreement with IBM on maintenance services for a new data center based on an IBM Power® 780 server. Asters' lawyers in cooperation with PRAVEX-BANK legal department provided full-service legal support of the transaction both on the drafting and negotiation stages.

This project in many respects is significant for the Ukrainian banking sector. The new data center will enable PRAVEX-BANK to ensure smooth servicing of customers accounts, processing of card operations, mobile and online banking, and improve the quality of services provided to over 1 million clients. The PRAVEX-BANK new data center fully complies with the NBU requirements regarding preservation of clients' documents and data. The technical implementation will be done by IBM Corporation and De Novo, which will supply a data center and an IT infrastructure hosting site that meets the necessary international security standards.

Asters' project team comprised of senior partner Armen Khachaturyan and associate Yevgen Kravtsov.

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