Explaining the unique details of the BSIP agreement, Reza Naraghi, IT Manager at the Bank, said; "We selected STB for its easy interface to our own banking system, and competitive pricing. Initial project costs quoted from other vendors were significantly higher and we also understood that there would be additional ongoing development and licensing costs for extra reports, as and when they came along. With STB we have protected our investment in regulatory reporting systems with an all inclusive guarantee from STB that there will never be any additional development or licensing costs, regardless of how many changes to the forms, or new forms, the regulator introduces. No other vendor was prepared to give this assurance."

Michael Thomas, CEO for STB Systems, added, "With the financial world awash with new threats and risks it's fairly safe to assume that there will be a flood of changes and refinements to regulatory regulations and controls over the coming months. Some software providers may see this as an opportunity to capitalise on the situation. However we have elected to give both our existing and new clients the assurance that their long-term investment with STB is known, and are actively promoting the option of an inclusive additional development agreement."