back Back

Elsewhen and Pacemakers launched Bank of the Future, Vodeno was chosen as the technology partner

By Joy Dumasia

December 03, 2021

  • Bank of the Future
  • BOTF
  • Digital Banking
Share

Elsewhen and Pacemakers have joined forces to launch Bank of the Future (BOTF): a transformative, customer-centric concept that challenges banks and other brands to rethink financial products and services exclusively from a customer perspective.

The two companies are working with Vodeno to help deliver the concept with its VODENO Cloud Platform, one of the most comprehensive fully cloud-based banking platforms on the market. The three firms are seeking other progressive organisations keen to adopt the BOTF model to revolutionise the way consumers use financial services.

BOTF provides customers with their own real-time, automated personal Bank, dedicated to acting in their interests and responding to their needs around three core functions: spending, borrowing and saving. Customers can allow many day-to-day banking decisions to be taken automatically by their Bank, based on real-time and historical behaviour, while still manually approving more significant decisions and transactions.

BOTF will focus solely on customer needs and outcomes, simplifying the banking process into an invisible intuitive customer experience through seamless UI, natural language interfaces and automatic recommendations based on customers’ data and support their financial ambitions. In an intensely competitive market, what differentiates the Bank of the Future from the other players are its core assets of the trust, ease of use and transparency.

BOTF will become the catalyst for embedded finance to deliver banking-as-a-service to consumers by empowering communities of customers across retailers, telcos, manufacturers, sports clubs, entertainers and more.

The Bank of the Future model is already possible with Vodeno’s technology. The BOTF is the first genuinely customer-centric Bank, finally acknowledging that customers do not want to buy banking products; they want solutions to help them achieve their financial goals.

Leon Gauhman, chief product and strategy officer, Elsewhen, said: “In a world driven by accelerated customer expectations, Elsewhen and Pacemakers envisage a new paradigm that views banking exclusively through the customer’s eyes. Bank of the Future will help customers achieve their financial objectives through deep personalisation, real-time advice and a focus on customer outcomes.”

Previous Article

December 03, 2021

AppTech Corp. appoints Ben Jenkins as Chief Technology Officer

Read More
Next Article

December 03, 2021

Index Exchange launches Filipino Fiesta to increase remittances to the Philippines

Read More






IBSi Daily News Analysis

UK, Bank

July 12, 2024

Bank of the Future

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 10, 2024

4 Neobanks redefining America’s banking infrastructure

Read More

July 10, 2024

Commercial Bank of Dubai signs partnership with Visa

Read More

July 09, 2024

NatWest taps OneID to enable digital identity service in the Nordics

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024