Today, Saxo Bank is an undisputed world leader in online trading of Foreign Exchange (FX), Stocks, Stocks on Margin (CFDs), Futures and fixed income products. The reputation of Saxo Bank as an award-winning and technology-driven European Internet-bank is built thanks to the modern and reliable software systems that support the Saxo Bank business model.
In the beginning of 2003 Saxo Bank decides to offer online investment services for a completely new customer segment - private investors, who would benefit from a full range of investment products. Since the time-to-market of new banking software products is a real challenge in the highly competitive financial services market, Saxo Bank decides to find a software development services company in the nearshore zone that specializes in portal solutions and has expertise in serving the Financial Services sector.
After strict prescreening of nearshoring locations and companies, Saxo Bank had turned to Russia's leading software development services provider - Reksoft, that has a software development center located in the largest city of Eastern Europe - St. Petersburg, Russia.
The two key concerns for Saxo Bank were the optimal time-to-market indicator and the highest standards in information security - both in relation to product and personnel.
Reksoft provides Saxo Bank with a full range of application life-cycle services - application architecture development, software development, application testing, support in platform implementation and continuous maintenance (3rd level application support services).
Resulting solution - the SaxoBank MiniTrader online platform, enters operations offering entry-level trading on a popular selection of instruments from the Saxo Bank product range, including:
Direct trading on live tradable prices through the professional online trading platform
Low trading costs and spreads
Reputable fully regulated EU bank where the Saxo Bank multinational staff offer personal service in 18 languages
Wealth of trading recommendations and market predictions from the Bank's own analysts and major financial institutions
Saxo MiniTrader online trading platform fully meets the needs of the Bank's clients, combining a highly secure online environment with a wealth of trading modules. Saxo MiniTrader helps private investors make successful trading decisions with real-time execution.
Saxo Bank outsourcing to Reksoft has allowed to roll-out the operational system within a very tight time frame. Thanks to that, Saxo Bank was able to grow its customer base, greatly benefiting from the launch of this innovative solution for a new market segment.