CRMs compose an important part of any broker’s business. They are used for monitoring new leads, tracking the sales process of clients, scheduling events, customer and partner reports, as well as providing daily and historical transactions. Within the forex industry, CRM requirements also include integration with client trading platforms and payment providers. Aiming to provide customized solutions to meet the CRM demands of the forex industry is newcomer Qobo.
Based in Cyprus, Qobo builds customizable CRMs for an array of online businesses. A recent addition to their coverage is the forex industry where they have been creating sector specific modules to cater to the needs of brokers.
Speaking to Anthony Nathanael, CEO at Qobo, he explained to Finance Magnates that upon entering the industry, they had a goal of providing a solution that “eliminates the pains that many brokers go through.” As such, the firm’s management, whose past experience includes work at large global firms such as NCR as well as forex brokers FxPro and Easy Forex, are using problems and solutions they faced in the past to incorporate sector specific modules for the CRM.
For the forex industry, this means Qobo has created modules that are added to the CRM to cover needs for brokers. An example is a document translation module to meet requirements of this matter from CySEC. The module provides a function where uploaded customer identification and residential address documents can be made accessible by third party translators. The translators are provided an interface to enter translations, but don’t have access to any other client details.
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Qobo found that most brokers have different ways to calculate customer LTV, so we allow it to be customized to fit their needs – Leonid Mamchenkov
Also included are trading related modules. They include functionality for broker representatives to conduct long-term value (LTV) calculations, integration with mail servers, as well as view customer trading activity directly from the CRM. Like other aspects of the CRM, Qobo customizes modules to fit the needs of their clients.
Leonid Mamchenkov, CTO of Qobo, explained that the CRM contains basic and advanced functions, but that it is purposely made to be flexible to provide customizations for customer. As an example, Mamchenkov related that “they found that most brokers have different ways to calculate customer LTV, so we allow it to be customized to fit their needs.”
So far, using the model of offering the ability to customize the CRM, as well as containing plenty of out of the box advanced features like lead tracking and mass mailing, has allowed Qobo to attract both smaller brokers with 25 person teams as well as large global players with headcounts in the hundreds.