One of the leading financial institutions in Eastern Europe is now implementing IT products from Germany.
The VTB Group, which is headquartered in Moscow and operates in over 20 countries throughout the world, is investing in software produced by icubic.
The company from Magdeburg - as developer of digital platforms for electronic securities trading - is now conquering the financial markets east of the Elbe with its guarantee for success, iQbonds. "This product offers the VTB traders quick access to the markets, exchanges and information platforms such as Reuters, Bloomberg and MarketAxess," explains Dietmar Jakal, icubic Board Member. In the next few years, the user interfaces and functions of iQbonds will be optimised according to the client's needs and new interfaces will be added in correlation with market conditions.
iQbond's high degree of flexibility and the rapid integration into the network of the investment bank were convincing factors. The Russian credit institute also equipped themselves with two additional software packages from the IT experts from Magdeburg: iMarket for trading on customer markets and the settlement software, iSettle-light. All systems are closely linked with each other and can be adjusted to fit client requirements.
After the contracts between icubic AG and the VTB Group in Russia were concluded, new talks began taking place with other well-known financial institutions in Hungary. "We have achieved a certain position in Western Europe and now we also want to gain a foothold in Eastern Europe," informs icubic Board Member Jakal. More and more banks are discovering the advantages of the icubic products. The business figures also indicate this: the public limited company achieved a record turnover. An increase in staff is also planned for this year.