21 October 2017
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Ohpen receives FCA authorisation

24 January 2017  |  3352 views  |  0 Source: Ohpen

Ohpen announced today that it has gained approval from the regulator, the Financial Conduct Authority (FCA), to carry out its regulated activities.

The approval enables Ohpen to provide its software and outsourcing services to asset managers, banks and insurance companies in the United Kingdom (UK) under its new British company, Ohpen Operations UK Ltd. “The FCA authorisation allows us to deliver an alternative for financial services companies to digitalise and outsource their entire investments and savings accounts operations,” says Angelique Schouten, Ohpen UK’s CEO.

International expansion Ohpen’s “Bank-out-of-the-box” solution
Ohpen provides both incumbent financial services companies and new market entrants with a “bank-out-of-the-box” solution to fully outsource their operations. Founded in Amsterdam in 2009, Ohpen currently services five of the largest financial services companies in the Netherlands, administrating billions of assets under administration. The move to the UK marks the company’s first overseas operation as part of its international expansion strategy.

“We made it our focus to innovate in the core banking space to enable asset managers, banks and insurance companies to outsource their entire IT-infrastructure, software, back office operations and customer contact centre,” explains Schouten.
Drawing on their expertise as former retail bankers, the founding team redesigned all processes and built the service from scratch resulting in a “bank-out-of-the-box” solution that is digital- and API-first.

UK: hardly any online fully digitalised capabilities
Ohpen aims to present a fully-digital alternative to the market that is dominated by just a few providers traditionally designed around a paper-based customer experience.
“We are very excited that the FCA has granted Ohpen its full authorisation. I think it says a lot about Ohpen as a business, having gained its FCA authorisation within little over half a year of applying for it. We are poised to challenge the mostly inert core FinTech & outsourcing market with a fresh, innovative, bold and colourful alternative,” concludes Schouten.

Ohpen established their UK office close to the Silicon Roundabout in 2016, with plans to significantly expand the local team over the next two years.

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