Five Degrees teams up with Salt Edge to boost digital banking innovation via open banking

Five Degrees, a cloud-native core banking technology provider, combines forces with Salt Edge, a leader in offering open banking solutions, to kit up banks and lenders from Europe with the open banking-enabled tools, helping them to create fully digital and innovative services.

The contemporary financial services landscape is a highly disrupted space, and only those businesses and organisations that manage to constantly flex and change, can operate efficiently and realise their full potential. The fintech phenomenon has shaken up the traditional banks by challenging conventional thinking, and forcing them to reinvent themselves, moving away from the standard set of services. And here is where modern companies like Five Degrees and Salt Edge rise to the challenge of giving banks and lenders the most innovative financial tools to keep up with the changes.

This partnership aims to add open banking capabilities to accounts and lending engines of the Five Degrees cloud-native core banking offering °neo. Salt Edge’s open banking solutions, including account information and data enrichment, supplement Five Degrees offerings comprehensively and can be easily integrated into banking and lending systems. Choosing Five Degrees and Salt Edge tandem, companies can connect to financial data from 5,000+ financial institutions in over 50 countries.

Five Degrees is proud to announce that it will partner with Salt Edge for their cloud-native core banking offering °neo. Together, Five Degrees °neo and Salt Edge will pursue opportunities to further digitise the financial services industry. Salt Edge, a leading open banking solution provider, offers a wide variety of services that complement the °neo lending and accounts engines. Given Salt Edge’s global presence, we foresee ample opportunities to jointly serve current and new markets.

Maurits van Schooneveld, Strategy Manager at Five Degrees

Modern financial services industry is experiencing a seismic shift in how new products are created and delivered to the market and the concept of open banking that matures fast, becomes germane for digital transformation. Here at Salt Edge we are excited to collaborate with Five Degrees to promote the adoption of open banking movement, so more and more businesses could benefit from countless opportunities that emerge in the financial market.

Alina Beleuta, Growth Officer at Salt Edge

About Five Degrees

Five Degrees is a cloud-native core banking technology provider that supports real banks to meet today’s standards. Through °neo, our core banking platform, our clients rely on a banking grade SaaS platform that unites our extensive experience working with world-class financial institutions. Five Degrees was founded by bankers in 2010. Our launching customer KNAB was based on our technology to become the first challenger bank in Europe in 2012. Soon incumbent banks throughout Western Europe, the United States and Canada also chose Five Degrees as their digital banking technology provider. In 2018, Five Degrees added lending to its product suite by the acquisition of Libra EHF, the market leader in lending technology in Iceland. Today, over 40 banks in Europe and North America use our technology. With over 150 colleagues working from our offices in Amsterdam, Reykjavik, Lisbon and Novi Sad.

More information: www.fivedegrees.com

About Salt Edge

Salt Edge – a financial API platform with PSD2 and open banking solutions. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway, and developing the technology necessary for banks to become compliant with the directive’s requirements. ISO 27001 certified and AISP licensed under PSD2, the company employs the highest international security measures to ensure stable and reliable connections between financial institutions and their customers. The company is integrated with 5000+ financial institutions in 50+ countries.

More information: www.saltedge.com
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