BSS sums up the results of 2003
Dear friends,
Merry Christmas and Happy New Year! Let 2004 see you happy and successful. We wish all your plans come true and new bold ideas be born.
BSS is as usual summing up results of the past year.
As results show, 2003 saw BSS actively developing. As in the previous year, the Company is the leader for the number of own e-banking product implementations. In 2003, over 170 credit institutions chose BS-Client to ensure on-line banking for their customers.
Thus, BS-Client became most widespread e-banking product throughout the RF territory. Today, over 900 credit institutions in Russia and former CIS countries are successfully running BS-Client.
The pool of large banks that entered BSS's customer base in 2004 includes such banks as Alfa Bank, International Moscow Bank, Ingosstrakh-Soyuz, EastBridge Bank, Regiobank, as well as banks in former CIS countries - Victoriabank (Chisinau), Minsk Transit Bank (Minsk), and others.
Our customers include Russian and foreign credit institutions as well as key banks of former CIS countries. Tens of thousands of businesses and individuals are served through software products by BSS.
On the whole, over 50% of largest Russian banks are running BS-Client. The customer base of the Company includes Vneshtorgbank, MDM Bank, Sobinbank, Surgutneftegasbank, Petrocommerce, GUTA Bank, NOMOS Bank, Uralsib, Trust Investment Bank, and others. BS-Client successfully runs in head offices and branches of such multi-branch banks as Vozrozhdenije, Bank "Solidarnost", Russian Agricultural Bank, and many others. Also, implementation of BS-Client started throughout the whole branch network of Promzvyazbank.
The Company's solutions are increasingly successful. BSS's 2003 turnover increased by more than 60% as compared to the previous year (from $5 mln to $8.4 mln).
The achieved results are due to constant internal development and striving to increase quality of own projects and procedures.
In analyzing the market and studying needs of banks, the Company is persistent in covering new areas within the scope of on-line banking. Based on information collected, BSS's specialists developed the "Retail Client" system - a full-feature replicatable solution for on-line private banking.
"Retail Client" includes over fifty various banking transactions available for customers. This is virtually a full range of transactions that can be effected on-line:
- operations with bank accounts (open, close), currency conversion, funds transfers (between own accounts and to accounts with other banks), opening of loans and deposits, issue, re-issue, blocking, and un-blocking of bank cards, and many other operations;
- various payments: telephone monthly fee, long-distance call fees, public utilities payments, subscription for periodicals, cable TV fees, Internet traffic payments, paging and cellular service payments, as well as regular payments.
In addition to operations with accounts, the "Retail Client" system for Web banking provides bank customers with information support. Informational services assume that you obtain information on your account status, exchange rates, statements with latest transactions against your plastic card, and other bank reports. Such services are rendered through Web-based banking and telephone-based banking.
"Retail Client" implements the standard security mode through BS-Defender as well as lite security mode through the usage of your password and session key. There is also the security mode with two-side SSL implemented.
In addition to the Web-based banking system for private customers, BSS developed a new technology of "Banking Rainbow" that significantly enhances the system functionality and volumes of on-line transactions. Today, the "Banking Rainbow" has no commercially available analogs. This is a unique pioneer solution that provides banks with the widest possible range of e-banking within a single system.
BS-Client's flexibility as well as our project-based approach to tailoring the system make BS-Client the most successful for large banks.
BSS develops individual solutions to enable banks to compile a suite of services appropriate for their business tasks and specifics. We apply the project-based approach that has enabled us to implement RF largest e-banking development and implementation projects. Thus, the retail banking project was implemented through BSS's effort in Alfa Bank. The Company's specialists developed a unique Internet Banking system with over fifty various banking products for the Alfa Bank retail project (Alfa Bank Express). Today, the Internet-Bank system is servicing multiple tens of thousands private customers of Alfa Bank.
Throughout 2003, BSS was actively expanding BS-Client implementations beyond RF. During the second quarter, the Company entered the banking market in Belarus. Today, BS-Client implementation is completing in Minsk Transit Bank. The product by BSSis completely adapted to the banking legislation of Belarus. Also, during this period, the Company bolstered its banking market position in Kazakhstan through opening a dealership in Almaty.
BSS is actively collaborating with its old partners including BIS, FORS, ProgramBank, New Athena, UniSAB, and "Business Consulting St. Petersburg". In 2003, partner agreements of strategic importance were concluded with QUORUM and CSBI. Agreements with leading Russian ABS developers regulate procedures and conditions for co-developing systems and their information interoperation as new versions appear in order to ensure best possible conditions for end users.
In 2003, BSS successfully started live operation of the new Release 015 of BS-Client. Today, the product is running in over 100 banks. BS-Client Release 015 does not depend on the BDE technology, has the standard memory manager replaced, and application code optimized. There is the capability added to install a client part and operate it under DBMS MSDE. The operation logic of the cryptographic protection system is modified for certificate-based cryptographic providers.
BSS is swiftly developing, which is confirmed by independent sources investigating the Russian IT market.
Specialists from the authoritative information agency CNews acknowledged BSS as the leader of the Russian e-banking market. According to CNews, market share of the Company in the e-banking segment is 19.6%. This indicator far exceeds market positions of the other developers. Also, BSS is acknowledged as the only e-banking systems developer with a share growing over the past year, whereas "positions of the other developers stayed virtually the same".
Besides, in accordance with the "Largest companies on the Russian information and communications technologies market" rating, BSSis among top ten Russian IT market leaders in per cent of revenue increase. During the past year, the Company's revenues increased by more than 80 per cent, which places BSS ahead of the other companies specialized in banking software development. The "Largest companies on the Russian information and communications technologies market" rating was prepared by experts from the "Expert RA" agency and was published in the "Expert" journal.
In 2004, the Company is planning to further enhance and develop the on-line banking complex for all types of a bank's tasks, keep our leadership on the Russian on-line banking market, and expand the BS-Client implementation geography beyond RF.
