Bankingblocks uses Five Degrees digital core banking technology to target challenger banks and payment companies segment
Partnership continues to strengthen the position of Five Degrees in the global marketplace
Rai, Amsterdam, 3rd June 2019 - Today Bankingblocks; a wholesale banking provider for fintech and payment companies and Five Degrees; a digital core banking provider, announce its partnership at Money 2020 – one of Europe’s largest financial services and payments events.
Bankingblocks is using Five Degrees’ Matrix solution as their digital core banking platform to launch, innovate and offer disruptive banking services to its global clients and partners including challenger banks, FinTechs and payment companies.
The partnership also strengthens the position of Five Degrees in the global marketplace for digital core banking solutions in the cloud.
Commenting on the partnership, Daria Rippindale, CEO, Bankingblocks said: “Bankingblocks selected Five Degrees due to their ability to build us a bespoke, purpose built modular core-banking solution for our wholesale banking services.”
“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. 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.”
Martijn Hohmann, CEO and co-founder, Five Degrees said: “It is 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.
“Bankingblocks have built a great proposition by providing modular banking services to fintech companies and we are proud that we are supporting this with our digital core banking platform in the cloud.”
About Five Degrees:
Five Degrees is a banking technology company founded in 2010 and has its headquarters in the Netherlands. By supporting financials in their digital transformation with its next-generation digital core banking platform, Five Degrees is the three-time consecutive member of the FinTech50 and a Dutch FinTech Award winner in the Banking IT category. For more information, visit https://www.fivedegrees.com/ or follow on Twitter @fivedegrees.
Bankingblocks offers purpose-built financial solutions for fintech and payment companies, which they in turn can offer to their customers. These services range from acquiring, alternative payments and banking services (IBANs) to foreign exchange, clearing, card issuing and everything in between.
Bankingblocks uses “blocks” that their partners can select, arrange and connect to, in whatever configuration they need. With these blocks, fintechs and payment companies can grow their own business and success, block by block.
Bankingblocks’ partners have direct access to products and services, like the integrated core banking platform, front-end banking and acquiring gateway services, to name a few. However, partners can also choose partial or full white-labels if they are so inclined.
Bankingblocks has combined the traditional European PI, agency banking and acquiring licenses groups to create a stand-alone modular banking service for the fintech industry. Bankingblocks will continue to expand its suite of financial products with new quarterly rollouts, adding to the existing product suite. These rollouts will be added to existing blocks of (but will not be limited to): real multi-currency IBANs (28 currencies), acquiring (Visa, MasterCard, Carte Bancaires, AMEX and JCB), card issuing, SEPA and SWIFT payments, alternative payment methods, compliance and onboarding management.
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