Backbase and iQStore sign partnership agreement for Russian market

iQStore will resell and implement Backbase’s Bank 2.0 Portal Software at multiple financial services customers in Russia.

28 JANUARY 2013, MOSCOW / AMSTERDAM
Summary
iQStore (joint venture of Quadrium & ICAM GROUP), a leading provider of information technology, consulting, and system integration services in Russia, and Backbase, the Bank 2.0 Portal specialist, today announced the signing of a partnership agreement to enhance sales, service and delivery of both companies. With great coverage in Russia, iQStore will resell and implement Backbase’s Bank 2.0 Portal Software at multiple financial services customers.
“We are happy to be able to work with iQStore who has strong relationships within the financial services industry in Russia, along with the technical implementation expertise our customers are looking for,” said Jouk Pleiter, Backbase CEO. 

“When it comes to partnerships we are always pleased to work with innovative technology companies. Backbase provides the kind of Bank 2.0 functionality that financial customers are seeking,” said Sergey Kaspariants, CEO at iQStore.

Financial institutions are all experiencing the consumerization of banking technology, as customers demand the same user-friendly and social experience they receive from companies like Amazon, Apple and Facebook. The legacy systems inherent in financial institutions have often held them back, unable to respond to the rapid changes caused by the mobile revolution, or the change in customer behavior patterns caused by the social networking era. 

Backbase understands these challenges and is enabling financial firms worldwide to provide new digital touch points and ways for users to interact with financial firms. As mobile devices and behavior evolve, Backbase and iQStore can offer banks the opportunity to regain the competitive edge, refocus on a user-centered online experience and make the most of their current systems.

The partnership combines iQStore’s technological expertise in the financial services sector and its experience as a systems integrator with Backbase’s knowledge in portal solutions as a Bank 2.0 Portal specialist. This agreement will help Backbase to provide the best service to its customers as it continues to experience rapid growth. iQStore has deep roots in the financial services industry within Russia and is able to summon the highest level of expertise with regards to implementation for Backbase customers and prospects.

About iQStore
iQStore is a joint venture company formed between Quadrium (www.quadrium.ru) and iCAM Group (www.icamgroup.ru). The primary field of the company’s business is rendering of the following services: systems integration services, complex testing of new versions of online banking systems and adaptations developed by the system’s vendor according to bank’s requirements, online banking systems turn-key implementation, tailoring of online banking systems to the customer’s needs, Improvement of online banking systems usability.

iQStore was founded in 2011 and is privately funded with operations in Moscow.

About Backbase
Backbase delivers Bank 2.0 Portal software that provides a new, user experience layer on top of underlying infrastructure and IT systems. It gives financials the opportunity to create interactions that link customers to relevant information and applications to fit their needs and preferences. With its modern, widget-based architecture Backbase Bank 2.0 Portal provides the flexibility and speed to create modern portals that truly empower the customer.

Unlike most traditional IT portal vendors, Backbase has created a contemporary, business-driven portal solution that makes portal management easy for e-business professionals. This means faster time to market and more flexibility to optimize online channels with less IT support.

The unique Backbase approach enables financials to drive self-service, fuel online revenues and turn their online banking channel into a true Customer Engagement Platform. Global financials such as ABN Amro, AIG, Al Rajhi Bank, Bank of America, Barclays, ING, UBS and Visa have improved their online customer interactions and maximized online customer experience, retention and conversion, by leveraging Backbase’s Bank 2.0 technology.

Backbase was founded in 2003 and is privately funded with operations in New York, Moscow, Amsterdam and Singapore. 
Quotes
"When it comes to partnerships we are always pleased to work with innovative technology companies. Backbase provides the kind of Bank 2.0 functionality that financial customers are seeking." Sergey Kaspariants, CEO at iQstore.
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About Backbase

Backbase is a fast growing fintech software provider that empowers financial institutions to accelerate their digital transformation and effectively compete in a digital-first world.

We are the creators of the Backbase Omni-Channel Banking Platform, a state-of-the-art digital banking software solution that unifies data and functionality from traditional core systems and new fintech players into a seamless digital customer experience. We give financials the speed and flexibility to create and manage seamless customer experiences across any device, and deliver measurable business results. We believe that superior digital experiences are essential to stay relevant, and our software enables financials to rapidly grow their digital business.

More than 80 large financials around the world have standardized on the Backbase platform to streamline their digital self-service and online sales operations across all digital touchpoints. Our customer base includes Al Rajhi Bank, ABN AMRO, Barclays, CheBanca!, Credit Suisse, Fidelity, Hapoalim, HDFC, Hiscox, ING, KeyBank, Legal & General, NBAD, OTP, PZU, PostFinance, Societe Generale de Banque au Liban and Westpac.

Industry analysts Gartner, Forrester and Ovum recognize Backbase as an industry leader in terms of omni-channel banking platform capabilities, and award the company high marks for its deep focus on customer experience management and unparalleled speed of implementation. Forrester named us a leader in the Forrester Wave for Omni-Channel Banking.

Backbase was founded in 2003, is privately funded, with headquarters in Amsterdam (HQ Global) and Atlanta (HQ Americas) and regional operations in London, Mumbai and Singapore.

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