There is a surge in digital banking solutions in recent times as it lets people manage their finances without leaving the comfort of their homes. One such fast-growing fintech company LEVERIS has built its first truly modern end-to-end banking platform for both challenger and traditional banks and consumer brands entering the lending and banking space.
Live in the Netherlands!
Headquartered in Dublin, LEVERIS founded in 2016 by Conor Fennelly has offices and development centres in Brno, Minsk, and Prague. Now, this fintech that delivers the world’s first completely cloud-native, software-defined digital core banking platform is live in the Netherlands and executes loans for Link Group customers in the country.
Since its deployment earlier this year, LEVERIS digital banking platform has helped bring about a 70% reduction in the average application to drawdown time, which enables the onboarding of additional lenders in less than four weeks. Also, this fintech company delivers a significant reduction in the overall operational costs for the customers of Link Group.
Regarding the partnership, Robbie Hughes, CEO, Banking & Credit Management at Link Group said, “This partnership is enabling us to enhance traction across the broader banking universe through the application of next-generation technology.”
LEVERIS Digital Banking Platform is also helping lenders easily manage payment breaks for struggling borrowers during the global pandemic. “If COVID-19 has taught us anything, it’s that the future of banking is digital,” said LEVERIS founder and CEO Conor Fennelly. “During this period, businesses and consumers have sought out digital solutions that ensure products and services are delivered safely and seamlessly.”
He added: “The consumer experience with banking has not always lived up to expectations. We believe technology has failed banks and, as a consequence, their customers. We aim to change that.”
Reduces cost of digital transformation
With LEVERIS technology, it is estimated by McKinsey & Co. that the cost of digital transformation can be reduced dramatically for legacy banks and new entrants can set up fully functional digital banks in a matter of weeks. When it comes to the customers’ front, this will mark a new era in digital banking with greater competition, lower costs, and better innovation as Banking-as-a-Service is coming to reality.
LEVERIS Digital Banking platform lets both banks and non-banks provide a slew of retail banking products such as deposit and savings accounts, current accounts, multi-currency accounts, payments and direct debits, savings goals, personal loans, debit card cashback, mortgages, fraud monitoring, etc. On the whole, it reduces many aspects such as costs, time, and complexity to help scale future-proofed and agile digital banking solutions.
Main image picture credits: LEVERIS