Brand New Day adopts Five Degrees core banking platform °neo

The Dutch online pension bank selects °neo as their banking platform to fuel a renewed strategy and to extend its capabilities to provide more financial products.

Earlier this year Brand New Day announced it will stop offering company pensions and life insurance and will focus on the fast-growing private market for savings and investments. To underpin the new strategy Brand New Day builds on the new core banking platform of Five Degrees. °neo will enable Brand New Day to increase its product offering and scale its capabilities without carrying an additional operational burden as the core functionality is provided by Five Degrees as Software as a Service.

Gerjan de Lange, Chief Technology Officer at Brand New Day comments: ‘At Brand New Day we are taking substantial steps to prepare for future expansion. Selecting °neo is a pivotal decision to enable future growth and help us to serve the needs of our customers while extending important capabilities. The solid partnership between five°degrees and Brand New Day has been fruitful from the start in 2017 and their new cloud-native technology enables us to scale and adapt to the rapidly changing financial services landscape.

Martijn Hohmann, CEO, and founder of Five Degrees: "I am very pleased to have Brand New Day on the °neo platform. From day one Brand New Day has set new standards in the financial industry for their clients and in terms of how financial service providers can leverage technology. I am excited to continue the journey and enable them to take another significant step to realize their ambitions.'

Since Brand New Day officially became a bank in 2017, it is utilizing °neo's predecessor Matrix as the core of its banking operation. Next to Brand New Day Five Degrees is currently supporting over 20 banks in Europe and North America through Matrix. In the coming months, the clients of Brand New Day will be migrated to the °neo platform.