Press releases

b-next provides compliance solution to major Russian bank

The German developer of specialised software b-next has concluded the past fiscal year with an important business deal. A major Moscow-based bank has decided to monitor their future trading activities using an installed surveillance platform developed by b-next. For the software provider, this achievement marks an important step in entering the Russian market.

The Moscow-based bank that b-next was able to attract as a new customer for their compliance solution has about 400 subsidiaries. Therefore, it is no understatement to say that b-next’s first attempt at gaining a footing in the Russian market was highly successful. Stefan Fabisch, CEO and majority shareholder of b-next, is particularly proud of this achievement:

‘This new business relationship brings me great joy, as I have had close personal and professional relations with Russia for the past 20 years.’ According to Wolfgang Fabisch, this new contract is the result of effective teamwork characterised by trust and sustainability. ‘The teams under our Chief Sales Officer Stefan Queck and our partner Refinitiv have done a great job,’ says the CEO. By leveraging the strengths of all participants, it was possible to provide a new customer with top-of-the-line compliance technology.

When the contract was awarded to this international partnership, the customer highlighted the importance of the quality seal ‘Made in Germany’. ‘Quality, customer focus and service orientation were crucial selling points,’ says Fabisch. This new contract will ensure the company’s worldwide success as business in Eastern countries is becoming increasingly important.

One of b-next’s current objectives is to enlarge its customer base in Russia. The chances of achieving this goal seem excellent. Chief Sales Officer Stefan Queck is convinced that the Russian market holds great potential for b-next. ‘Our compliance solution is highly efficient and has been used by large international companies in the financial market and the energy market for years. The Russian market is ready for our product’.

About b-next

b-next AG is one of the world’s leading providers of corporate software in the capital markets trading surveillance and compliance sector. The corporation has around 70 employees. Its customer base in the finance sector includes, among others, renowned banks, brokers, supervisory bodies and energy suppliers. In the 30-year history of the company, several hundred customer projects have been successfully carried out. b-next is represented by its own branch offices in Germany, Great Britain and the United States.

The slogan ‘SECURE | PROTECT | COMPLY’ stands for the company’s powerful and comprehensive solutions covering the entire spectrum of compliance requirements in the capital markets. b-next’s products help companies meet regulatory requirements and manage operational risks.

The major value driver for b-next are the development of innovative, cloud-based applications as well as the use of artificial intelligence, in particular for a strategic approach to compliance.