N26 selects Eurobase Siena to manage its treasury operations
German challenger bank N26 has selected banking and insurance software provider Eurobase to manage its treasury operations.Choosing Eurobase’s Siena platform, the neobank will use this product to manage the treasury operations of its 3.5 million customers which span across 25 European markets and the US.
“As we continuously invest in the management of our treasury operations and mitigation of financial and reputational risk, this [Siena] platform will further enable us to underpin our bank treasury activities,” says N26’s chief financial and risk officer Richard Groeneveld.
Related: N26 launches in the US
Eurobase’s banking solution CEO Joe Locke says its platform “will enable increased visibility and management of its exposure and risk”, and the technology provider is looking forward to “a long-term partnership with the bank” following a successful implementation.
In other news, N26 has been pinned as one of the two neobanks across the US and Europe to receive the most funding. According to Crunchbase data, OakNorth stand in first place with $1 billion, with N26 following at a funding total of $670 million.