Qobo – Learning from the Past to Build the Forex CRM of the Present and Future

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 Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term 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 CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term. 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.

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.