Dutch pensions bank Brand New Day picks Five Degrees core system
Dutch pensions bank Brand New Day has selected Five Degrees and its neo cloud-based core banking system.
Five Degrees says it was chosen to help the bank extend its capabilities and provide more financial products.
Brand New Day is undergoing a strategic shift, swapping out its traditional company pensions and life insurance services. Replacing them is a focus on private market savings and investments.
Gerjan de Lange, chief technology officer at Brand New Day, says the selection of neo is a “pivotal decision”.
He adds that their “solid partnership” has been fruitful since 2017, and that the new cloud technology will help the bank scale and adapt.
Brand New Day currently deploys Matrix, a system ranked as neo’s predecessor. Five Degrees supplies the system to “over 20 banks” in Europe and North America.
The vendor is planning a gradual rollout of the new platform to all existing Matrix users.