LEVERIS core banking tech enables Link Group to enter Dutch market

By Sunniva Kolostyak

Banking technology provider LEVERIS has launched the first completely software-defined, cloud-based digital core banking platform, enabling financial services firm Link Group to enter the Dutch market.

The newly developed LEVERIS Digital Banking Platform works completely independent of legacy core banking technology and will enable more traditional banks and challengers to enter new areas of banking and lending.

The Dublin-based company said the technology breaks new ground with the FinTech solution, as it enables independent loan servicer Link Group to enter the Dutch lending market in just ten weeks – and executes loans and services millions of euros for three Link Group clients.

Commenting on the partnership, Robbie Hughes, CEO, Banking & Credit Management at Link Group, said: “This partnership is enabling us to enhance traction across the broader banking universe through the application of next-generation technology.”

Since deployment, the LEVERIS Digital Banking Platform has helped deliver a 70 per cent reduction in average application to drawdown time, enabled the onboarding of additional lenders to the platform in less than four weeks, and delivered a significant reduction in operational costs for Link Group.

The platform has been built for the rapid launch of low-cost, digital-first banks. It includes retail banking products such as current, deposit, multi-currency and savings accounts, savings goals, payments and direct debits, debit card cashback, personal loans and mortgages.

It also provides digital onboarding including KYC & AML, fraud monitoring, real-time notifications, mobile and web channels, and back-office servicing interfaces.

LEVERIS Digital Banking Platform is also helping lenders easily manage payment breaks for struggling borrowers during the global pandemic. Conor Fennelly, Founder and CEO of LEVERIS, said: “If COVID-19 has taught us anything, it’s that the future of banking is digital.

“During this period, businesses and consumers have sought out digital solutions that ensure products and services are delivered safely and seamlessly,” Fennelly said. “The consumer experience with banking has not always lived up to expectations. We believe technology has failed banks and, as a consequence, their customers. We aim to change that.”