Dutch start-up Bankingblocks out of the blocks
Amsterdam-based wholesale banking provider Bankingblocks has launched across Europe offering products and modular services for fintechs.
The company says it integrates core banking technology with a range of banking products to let other firms enter the market.
Its name of Bankingblocks is a clue to what it offers. Namely a range of modular banking services, called “blocks”, which are accessible via a direct API connection and through full or partial white-labels.
The start-up explains that fintechs, payment companies and corporate clients can pick, choose, mix and match the blocks that fit best with their business and their customers, and create their own, personalised “stack”.
It was co-founded by BillPro’s former CEO, Daria Rippingale, and Oonex co-founder, Fabien Boursin.
Rippingale says: “These new regulations [GDPR and PSD2] are providing a fertile ground for fintechs to develop and for existing payment companies to transform, but traditional banking partners are often not able to meet their needs. After identifying this underserved corner of the market, we created Bankingblocks to provide a solution that allows them to provide extensive, customised and compliant solutions for their clients.”
Bankingblocks explains that it is a regulated payment institution, SEPA and Swift member and direct card-scheme acquirer.
Throughout 2019, it will expand its suite of financial products with new quarterly roll-outs, adding to the existing product suite, which includes real multi-currency IBANs, acquiring (Visa, Mastercard, Carte Bancaires, Amex and JCB), and card issuing.