Wed. Jun 26th, 2019

Five Degrees Teams Up with Bankingblocks

Source: https://finovate.com/five-degrees-teams-up-with-bankingblocks/

Five Degrees Teams Up with Bankingblocks

Digital core banking technology company Five Degrees has partnered with Bankingblocks to help challenger banks and payment companies offer new banking solutions to their customers. The firm announced this week that it will leverage Five Degrees’ Matrix solution as its digital core banking platform in order to launch a wide variety of banking services to clients and partners around the world.

“We are looking forward to integrating additional services together into the Five Degrees platform over the coming 12 months to add even more value to our fintech customers,” said Bankingblocks CEO Daria Rippindale. “Five Degrees are the perfect core-banking platform for us, as their flexibility and modularity allow us to expand our banking and payment blocks easily and with speed.”

Bankingblocks provides a modular banking service to the fintech industry. The company combines a traditional European payment institution, agency banking, and acquiring licenses to provide a wide range of products and services including acquiring, alternative payments and banking services (IBANs), foreign exchange, clearing, and card issuing. Customers of Bankingblocks can also access solutions like integrated core banking platforms, front-end banking, and acquiring gateway services. The company’s modular approach enables customers to choose the specific configuration of financial services solutions they need, saving time and money and reducing the complexity of adding new digital offerings.

“It’s great to see how Bankingblocks is leveraging our digital core banking technology to provide ready to go modular banking services to existing and new fintechs,” Five Degrees CEO and co-founder Martijn Hohmann said. “Bankingblocks have built a great proposition by providing modular banking services and we are proud that we are supporting this with our digital core banking platform in the cloud.”

Five Degrees demonstrated its ability to build and configure a complete, end-to-end retail bank in the cloud at FinovateEurope 2019. The company’s “next-next-finish” process and UI enables professionals without IT experience to choose the type of app, the necessary modules, components, and activities, and have a bank-as-a-service ready to go in 45 minutes.

Earlier this year, we highlighted Five Degrees in our Earth Day feature on ways fintechs are helping businesses and consumers develop environmentally-friendly habits. Founded in 2010, the Netherlands-based company has raised $11.3 million (€10 million) in funding from investors including Karmijn Kapitaal and Velocity Capital Private Equity.

The post Five Degrees Teams Up with Bankingblocks appeared first on Finovate.

Source: https://finovate.com/five-degrees-teams-up-with-bankingblocks/

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