Ural Bank for Reconstruction and Development (UBRD) and Compass Plus have marked a 20 year milestone in their partnership. In the two decades since the bank migrated its card business to Compass Plus software, UBRD has evolved from a small regional bank to being named one of the 30 largest banks in the country, according to the Central Bank of Russia.
In 2000, the bank's senior managers foresaw the rapid development of the card market in Russia and, in order to transform its business, be a step ahead of other market players and offer customers the new products that will fully meet their needs, they made the decision to change banks’ payment platform and bring its processing in-house. UBRD chose Compass Plus software due to its reliability, extreme scalability and the vast product line offered, which enabled UBRD to test many card products before launching only the most advanced and convenient for its customers.
Today, UBRD continues to follow its customer-centric business strategy, by constantly expanding its offering and enhancing existing products and services with the technological support of Compass Plus.
"Over the last 20 years of cooperation with Compass Plus, UBRD has grown from a regional to a major bank, and our long-term partner made us feel supported every step of our way. In 2021, we plan to increase the number of digital payment methods available to customers by launching the C2B service within FPS, as well as further extending support for Apple Pay and Google Pay - all of these will be implemented using Compass Plus solutions," said Alexander Mezentsev, Managing Director of the IT Solutions Implementation Centre at UBRD.
"We are really proud to work alongside one of the most significant payment industry players in Russia," said Irina Belova, Senior Sales and Account Manager at Compass Plus. “We very much appreciate our well-established relationship with UBRD and, as the digital era increasingly imposes new requirements on financial institutions, we are always ready to offer the bank our experience and modern approach to implementing the most relevant and demanded payment methods."