Together they will enable banks to significantly reduce IT and compliance costs while also enabling banks to be more responsive, improving customer experience. For this purpose, the two companies have formed a multi-year, global strategic partnership. As part of the agreement, GFT will support Vodeno’s expansion with development, QA testing and implementation services.

GFT CEO Marika Lulay, said: “One thing is clear, the banking world is facing a digital paradigm shift. New ‘born-in-the-cloud’ platforms like the Vodeno Cloud Platform make the transition from legacy to next-generation technology easier and faster than ever before. It is now possible to cut the time for a full digital transformation to less than six months. By combining Vodeno’s software with our deep expertise in the banking market, we will help clients be at the forefront of this opportunity for a real digital breakthrough.”

“The Vodeno Cloud Platform can power any Retail and SME proposition through our suite of public APIs. Together with GFT, we can help clients to be more productive by offering modern technology with an ecosystem of over 80+ pre-integrated partners. All without the friction and cost of a traditional technology transformation or green field launch. By enabling shorter times to market for new products and features, clients can also be more responsive to their own customers’ wishes, supported by a team with hands-on experience,” said Miroslaw Forystek, CEO of Vodeno.

Vodeno’s core banking solution targets banks digitising their activities, fintechs who wish to extend their services, or any company interested in entering the financial services market.

“Our products and services are easy to tailor to a variety of propositions powered by our intelligent system of smart contracts combined with the ability to white label our solutions to fit any customer’s needs,” added Forystek.

“The Vodeno Cloud Platform complements our current Digital Core Banking offering, which is why having Vodeno as a partner is extremely valuable for us. We are convinced that Vodeno will enable financial services institutions to further transform and to deliver banking-as-a-service,” said Chris Ortiz, Global Markets and Region Manager APAC and UK at GFT.