Compass Plus and Unibank feature in 2020 bobsguide awards win

A flexible, collaborative and adaptable approach to partnership was behind the success of 2020 bobsguide Best Retail Banking System Implementation award winners Compass Plus and Unibank. Unibank, one of the largest, most innovative and successful retail banks in Azerbaijan, originally teamed up with Compass Plus in 2018 to migrate its personalisation centre from several third-party …

by | March 23, 2021 | Compass Plus

A flexible, collaborative and adaptable approach to partnership was behind the success of 2020 bobsguide Best Retail Banking System Implementation award winners Compass Plus and Unibank.

Unibank, one of the largest, most innovative and successful retail banks in Azerbaijan, originally teamed up with Compass Plus in 2018 to migrate its personalisation centre from several third-party solutions to an in-house centre built on solutions from Compass Plus. Since then, the partnership has gone from strength to strength, with many additional projects successfully implemented together, including a major project to migrate the bank’s payment infrastructure to the open development payments platform TranzAxis from Compass Plus.

There are many reasons Unibank choose Compass Plus as their partner, from sharing the same core values to strategic compatibility and the collaborative approach in which projects are run. However, one of the key reasons is the flexibility the Compass Plus team, as well as its software, provides the bank. To truly enjoy flexibility, they required a solid partnership with their vendor that didn’t just offer the pretense of flexibility, but showed that the vendor was flexible in themselves, as well as to Unibank’s evolving requirements.

TranzAxis, the software that Unibank chose to use to base their major payments business transformation on, provides flexibility and adaptability by allowing the bank to carry out extensive customisations and developments. It also enables Unibank to bring to market products and services with incredible speed.

At the time of the partners’ first project, Farid Mammadzade, CTO at Unibank, said: “The flexibility and reliability of both the software and the vendor’s approach to project implementation, as well as commercial aspects, were the key factors for us when choosing a vendor to launch an in-house card personalisation centre. With the professional approach of the Compass Plus team, we completed this project within a short timeframe and in compliance with all industry standards. Today, we are 100% sure that we made the right choice.”

More recently, as part of a large-scale strategic project that will substantially increase its offering and expand its business, Unibank migrated its in-house processing centre to Compass Plus’ TranzAxis. The major project to transform the bank’s payments infrastructure has been carried out in an extremely collaborative manner, with each step of the project undertaken in a phased approach to ensure the project would go as smoothly as possible with no availability issues.

“This migration project is strategic for us. The TranzAxis platform, built on the most advanced and cutting-edge technology, represents a new generation of industrial-strength systems for banking service automation. We are confident that this project will enable us to not only launch the most advanced and highest quality products and services to market, as demanded by our customers now and well into the future, but do so in the fastest time,” said Mammadzade.

Unibank is a customer-oriented bank, that considers the needs of its customers in different regions and offers products and services of a global nature that are simultaneously adapted to local markets – which is something that TranzAxis and Compass Plus enables them to do. Unibank is now able to differentiate and react quickly to requirements, whether their own business needs, those of their customers, those that are industry-driven or, indeed, those that are mandated.

The events of 2020 have shown that it has never been more evident that flexibility is key when choosing a technology or partner – organisations need to be able to move quickly, trends change at the drop of a hat, payments modernisation and digital transformation is accelerating at such a pace that to be able to compete, banks need to keep up with, and ideally be ahead of the curve, offering their customers the products and services they want to make their lives easier.

Compass Plus and Unibank have found in each other a partnership that works seamlessly – enabling the bank to react to the changing market incredibly quickly and benefit for the competitive advantage the partnership provides: “As you know in our digital world, when processes and customer needs are changing so fast, the bank should react to all of these changes as quickly as possible. Having a flexible partnership and time-to-market is extremely important nowadays. We think and believe that this is what we have found in Compass Plus.”

The awards, which are organised by bobsguide, are subject to several rounds of assessment by the judging panel, with those that show the strength of the technology update, the impact on the customer and the standing out of the system in the marketplace named winners.

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