Five Degrees, the Dutch Fintech in digital banking software, and BillPro, a leading international provider of payment solutions for businesses launches a digital cross-border banking offer in Europe. The partnership enables Five Degrees and BillPro to support businesses and fintech companies globally, across different industries.
As part of the agreement, BillPro will use Five Degrees' Matrix solution as their digital core banking platform and will offer it to its partners as a unique extra service. This will strengthen the position of Five Degrees in the European market for Digital Banking platforms, while BillPro will be able to launch fast, continuously innovate and offer disruptive banking services to its global clients and partners.
With the UK pioneering open banking initiatives and PSD2 setting the ground for the rest of Europe, the partnership offers a great opportunity for UK fintech companies to collaborate with banking and technology partners to boost global expansion and domestic consolidation.
BillPro has been offering tailor made merchant payment processing and acquiring services to small and large businesses for over 10 years. Matrix will be central to the new digital banking stack that BillPro will launch, enabling international businesses of any size to access next-generation cross border banking services, as well as enabling fintech companies to build their own financial products.
Daria Rippingale, CEO of BillPro said: "With the launch of our new cross border banking portfolio, we are able to leverage the cutting-edge, proven banking technology of Five Degrees to offer next-generation banking services. This will add significant value to both current and future clients as well as partners. Our partnership with Five Degrees will enable BillPro to issue IBANs and Bank Accounts to people around the world."
Martijn Hohmann, CEO of Five Degrees said: "We are very happy to unite forces with BillPro, a leading provider of payment solutions in Europe and beyond. As a result, we are able to expand our customer base and enhance our position in the European market for Digital Banking platforms. Through this partnership, we can shape our idea of market place banking even more."