Press Release, 28 January 2013

Backbase and iQStore sign partnership agreement for Russian market

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.