Irish digital banking platform LEVERIS has announced expansion into a new market. The startup has enabled major financial services firm Link Group to enter the Dutch market, and is now executing loans and servicing millions of euros for three Link Group clients.
Founded in 2016, LEVERIS is a cloud-native, software-defined core banking system built for the rapid launch of low-cost, digital-first banks. The platform enables banks and non-banks to offer a wide variety of retail banking products, such as current accounts, savings goals, mortgages, fraud monitoring and real-time notifications. In a nutshell, LEVERIS Digital Banking Platform dramatically reduces the cost, complexity and time it takes to launch agile, future-proofed digital banks at scale.
Since deployment, the LEVERIS Digital Banking Platform has helped deliver a 70% 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.
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.”
LEVERIS Digital Banking Platform is also helping lenders easily manage payment breaks for struggling borrowers during the global pandemic. “If COVID-19 has taught us anything, it’s that the future of banking is digital,” said LEVERIS founder and CEO Conor Fennelly. “During this period, businesses and consumers have sought out digital solutions that ensure products and services are delivered safely and seamlessly.”
He added: “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.”