Bankable signs ten-year partnership with Aion Bank and Vodeno
A three-way ten-year partnership between Bankable, Aion Bank and Vodeno is intended to provide a broad European Banking-as-a-Service (BaaS) platform.
The partners are not commenting beyond the announcement as to where their deal will take them.
However, the trio state it is intended to target EU and non-EU banks wishing to build multi-country offering, global brands building embedded finance solutions, and fintech scale-ups seeking to launch multi-country offerings in Europe. The partners will enable accounts, cards and local IBANs.
Bankable is an existing BaaS provider; Belgium-based Aion Bank and core banking system entrant, Vodeno, are both backed by global private equity firm, Warburg Pincus. Aion Bank was the first user of Vodeno’s platform.
As part of the deal, Bankable will set up pan-European, pre-approved account and card programmes enabled by Aion Bank to accelerate time-to-market for banks, global brands and fintechs.
Bankable will also utilise Vodeno’s cloud-based technology to complement its own tech stack with a ‘Credit-as-a-Service’ offering.
In the statement, Eric Mouilleron, CEO and founder of Bankable, says: “This partnership clearly sets us apart from competition with the richest [Baas] offer for premium clients with clear multi-country ambitions in Europe.”