Five Degrees and BillPro launch European banking service
Dutch digital banking technology provider Five Degrees has teamed up with BillPro, an international business payments solutions firm. Together, the two companies will launch a new cross-border banking service in Europe with Five Degrees’ core banking solution Matrix at the centre, reports David Penn at Finovate.
Five Degrees CEO Martijn Hohmann says. “Through this partnership, we can shape our idea of marketplace banking even more.”
BillPro will use Matrix as its core digital banking platform, and will offer it to its partners as an additional service option. The partnership will enable Five Degrees to expand its presence in the European market and give BillPro the ability to launch new banking services for its international business clients and support fintechs as they develop their own innovative solutions.
Matrix is an intelligent digital banking platform that supports customer onboarding, transactions, documents, and all customer interactions. The platform can be connected to legacy core banking systems, helping banks offer a broader range of customer-centric services including SME and retail lending, robo advisory and wealth management, as well as mortgages, FX trading, and current, savings, and deposit accounts.
Five Degrees has partnered with a variety of banks and fintechs including top three Netherlands consumer lender Credit Agricole Consumer Finance; robo-advisor Munnypot; and GarantiBank, a European bank with more than $91 billion in assets.
Founded in 2009 and headquartered in Amsterdam, Five Degrees has raised more than $11 million (€10 million) in funding from investors including Karmijn Kapitaal and Velocity Capital.