Source: Fidor Bank
Fidor, the innovative provider of digital banking solutions that helps firms launch and run their own digital banks, today signed a partnership agreement with Van Lanschot, (Euronext: LANS), the leading wealth management firm, founded in 1737 in the Netherlands.
The partnership will enable Van Lanschot to upgrade their payments software and infrastructure using the Fidor digital banking solution.
As part of the agreement, Fidor will manage user and account data and will process Van Lanschot’s payments flows within its fidorOS (fOS) platform in addition to modernising the user experience with iOS and Android native mobile applications and a desktop internet banking platform front end.
This agreement means that, over time, Van Lanschot clients will enjoy an improved and modern user experience across a range of value added services: an innovative and modern mobile payment app, on-us real-time payments, multiple accounts in multiple currencies, global money transfers, P2P transfers in addition to special services for the Dutch market such as iDEAL payments and Acceptgiro.
This partnership comes at a time where banks will soon be facing pressure to comply with the new Payment Services Directive (PSD2). The fidorOS platform is built using open APIs and geared for the future. The integration of fidorOS will provide Van Lanschot’s platform with added benefits such as significant cost efficiencies, added flexibility and fast implementation while reducing risks for Van Lanschot to enter into a major and costly infrastructure change on their back end.
“To be working with the most reputable wealth management bank in the Netherlands shows how far the belief in the effectiveness of digital banking has now progressed. This partnership with Van Lanschot marks the launch of Fidor’s Payments Avenue, which will be extended to other European countries and offered to banks that wish to join our payment business model as a service,” said Ge Drossaert, Chief Commercial Officer and Member of the Board at Fidor AG.
Richard Bruens, member of the Executive Board of Van Lanschot, said: “This is an important step, as it will allow us over time to provide our clients with state-of-the-art payments services and products. In Fidor Solutions, we believe to have found the best partner to improve our offering and focus even more on our core business, wealth management. Fidor’s Payments Avenue also opens up a multitude of opportunities as banks are given more chance to collaborate together”.