five°degrees and Microsoft partner to offer cloud native core banking technology.
Published on: September 20, 2021
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Amsterdam, 20 September 2021 –five°degrees and Microsoft join forces to offer cloud native core banking technology on the Microsoft Azure cloud platform. The Dutch-based technology provider launches its new core banking platform on the Azure marketplace and integrates Azure services and tooling into its °neo platform.
five°degrees provides core banking technology for 20 banks in Europe and North America, ranging from fintech labels to tier-one banks. Its new cloud native core banking SaaS solutions include a comprehensive lending engine, a transactional accounts engine, and a 360-degree view client data management engine.
Pieter Tjerk Wijle, Sales Director Financial Services at Microsoft: At this moment, the market is adjusting to a new reality. Innovation is the solution to be really customer-focused and creates an opportunity to be competitive, without making a sacrifice on security and privacy. Financial institutes should think about adding technology to their core business to optimize processes and being able to better collaborate. The new cloud solution of five°degrees combines innovation, flexibility and security by making use of the Microsoft Cloud Platform. With this technology, banks can optimize for the constantly evolving high customer expectations, while complying with the important regulatory requirements. ‘
During the creation of the °neo platform, five°degrees selected several Azure services and tooling for generic functions and combined this with specific banking functionality to manage financial products and to support banking processes.
Jeffrey Severijn, Chief Technology Officer at five°degrees: ‘When setting out on °neo, we evaluated different approaches and concluded that Microsoft Azure was undoubtedly the most suitable cloud platform to create banking-grade technology. Today we utilize best-in-class services and tools from the Microsoft Azure platform for a variety of platform functionalities. Our clients expect nothing but the highest standards when it comes to reliability, security, and functionality and these are guaranteed through the Microsoft Azure Platform. As Microsoft is the trusted partner for financial services we are pleased to bring the °neo platform in the Azure ecosystem to the banking industry.’
Aiming at banks that approach a core technology transformation in the coming years, five°degrees supports banks to utilize data management, seamless integration within the existing application landscapes, and remarkable usability for end-users. five°degrees and Microsoft will announce more details on the collaboration. Recently pension bank Brand New Day, SME lender Swishfund and ABN AMRO's global trading platform Franx were announced and are currently preparing for go-live utilizing the °neo core banking platform through Azure services.