Source: Five Degrees
Five Degrees is delighted to announce Swishfund as its first customer on °neo, its new cloud native core banking platform. Fintech Swishfund was founded in 2016 and provides direct lending products to SME businesses in the Netherlands and the United Kingdom.
Swishfund will migrate its existing customer base onto °neo, as it focusses on further expanding its business.
°neo enables Swishfund to increase its capabilities significantly by providing a range of highly automated and flexible financial products. In its first five years Swishfund has become a highly successful label in the SME lending market with stellar growth figures. By adopting the technology of Five Degrees it will significantly leverage its offering to scale rapidly in different markets with its business loans.
Jeroen Sonsma, CEO at Swishfund, comments: ‘At Swishfund, our goal is to provide business lending products in an extremely easy, fast and convenient way. We aim to be the most attractive alternative lender in short and mid-term financing for entrepreneurs and their SME businesses. Where the traditional banks are withdrawing more and more in this important market, we are stepping forward to help. By adopting °neo, we will reach a next step in efficiency, which opens new possibilities to deliver a seamless lending experience that will bring us more customers and will retain recurring existing customers. At the same time, we can focus more on what we are good at, which is offering fast, flexible and suitable credit. For us this migration is a big step towards further professionalisation and scalability of our organisation. We can offer our customers an even smoother application and approval process via our websites www.swishfund.nl and www.swishfund.co.uk. ‘
Sonsma continues: ‘We assessed multiple cloud native platforms and for us Five Degrees came out on top through a combination of in-depth knowledge of the financial sector and the way they apply cloud native technology. In addition, they were a perfect cultural fit with our own company: forward thinking, informal and fast. It is incredible to see how effortlessly the °neo platform works, and how it enables us to focus on our core business where we can provide a truly great lending experience. On top of that, being the launching partner for Five Degrees we've experienced them as being very open and listening to our and our customer's needs in further developing the platform.'
Martijn Hohmann, CEO and founder of Five Degrees: ‘We are extremely excited to work with Swishfund as our launching customer for °neo. After a decade of providing innovative core banking technology for an amazing group of clients in Europe and North America, we created °neo from a clean sheet of paper. We have combined the latest cloud native technology with our experience from the past 10 years. I am very proud to see Swishfund embrace °neo to fuel their growth.'