Matrix, our proven core BPM banking solution, offers a future facing fully automated banking services platform supporting any segment, product or channel through a rich mid office environment, connected to any (legacy) back-office, or the available Matrix back office. Matrix operates in a fully automated model with an unparalleled level of self service at every touch point giving both customer and bank instant insight and control in the process. The Web-based mid office portal offers benefits in terms of efficiency in adapting new business processes on the go. The open services platform integrates with any external service like KYC checks, passport validation, PFM, etc. or any external banking services requested. Clients deploy the technology through a portal in a number of pre-defined flavours: full retail and SME banking, savings bank, private banking or micro finance.
After the crisis in 2008, European legislators introduced the Payment Services Directive 2 (PSD2), the successor of PSD1, which became law in European member states in 2009. PSD2 entered into force in January, 2016.
For banks PSD2 goes much further than a challenge for compliance management. Acting on PSD2 means moving into accelerating towards the API Economy, where APIs are the connection points that give third-party providers access to banks’ databases.
Moreover, PSD2 brings new opportunities. It offers the unique chance to embrace open banking and become the hub that brings new services together.
Following our first whitepaper on Marketplace Banking, Five Degrees have issued a whitepaper explaning the opportunities that Marketplace Banking brings to the small and medium sized enterprises (SME) market. This segment has been underserved by banks for a long time, leading to SME's searching for alternative financing sources. Banks that adopt the concept of Marketplace banking can use the fintech ecosystem to serve the SME market to its needs. They just have to invest in having the right application infrastructure in place to enable these services for their clients.
Five Degrees was a sponsor of the Marketforce Future of Digital Banking conference in London on June 29/30 in London. Peter-Jan van de Venn, Chief Commercial Officer of Five Degrees outlined the Five Degrees vision on Marketplace Banking. Five Degrees strongly believes in “the world of services”. A...