Amsterdam, September 19, 2019 – Core banking provider Ohpen and international software and services provider Virtual Affairs announce a jointly developed out-of-the-box bank and wealth manager. Ohpen’s core banking platform is connected to Virtual Affairs’ mobile banking solution, creating a one-stop-shop for financial services providers that want to launch a new investment proposition for retail customers.
The partnership enables banks, insurers and asset managers to reduce their time to market by approximately 6 months. They don’t need to worry about complex implementations and integrations. By using the end-to-end solution created by Ohpen and Virtual Affairs, financial services providers can focus time and money on where it matters: servicing their customers and delivering new products.
“Financial services providers now have the opportunity to launch a fully compliant, reliable and adaptable retail investment proposition within months or even weeks. The solution can be tailored with unique branding, proposition and product characteristics, while a standard set of third-party integrations connects it to the outside world. It’s as simple as that,” said Angelique Schouten, executive board member at Ohpen. “Integrating Virtual Affairs’ mobile app and the Ohpen Platform creates a true out-of-the-box solution for any execution only, advice or discretionary wealth management proposition and speeds up delivery times by half a year.”
“We chose to invest in this integration to provide banks, insurers and asset managers with a shorter time to market and a seamless experience for their customers”, Robin Peters, Managing Partner of Virtual Affairs states. “We focus on a mobile first approach for now, but we can easily expand our interface to include service specific web requirements. We can now better serve both our current and new clients, by offering an end-to-end solution rather than front-end only.”
The wealth manager-out-of-the-box will be available in the United Kingdom and the Netherlands.
Ohpen is the world’s first cloud-based core banking engine with a simple promise: IT. JUST. WORKS. The Ohpen Platform is built from scratch by experienced bankers and software engineers to administer retail saving and investment accounts. Ohpen liberates financial services providers such as banks, insurance companies, asset managers and pension providers from their legacy systems and processes. Aegon, Knab, Robeco, Nationale-Nederlanden, Volksbank and LeasePlan Bank are all examples of customers who found a reliable, adaptable and compliant solution in the Ohpen Platform. The head office is in Amsterdam, the Netherlands, and the company has a software development office in Barcelona, Spain, employing approximately 150 people.
See original article: https://www.virtual-affairs.com/en/news/va-and-ohpen