Next-gen core banking platform Modularbank announces strategic partnership with leading European payment company Nets

Modularbank, the Estonian-founded, next-generation core banking platform, enabling banks and any other companies to quickly roll out tailored financial services to their customers, today announced a strategic partnership with Nets Estonia, a well-established player in the card payment market in the Baltics and part of Nets Group, one of the top payment processors in Europe. 

This partnership allows Modularbank to extend the offering of its core banking platform. With Nets, the company is adding a best-in-class card issuing and processing solution to its ecosystem and is thereby enhancing the value of its card product portfolio for its customers.

Rivo Uibo, Co-founder and Chief of Business at Modularbank, comments: “Forming a partnership with Nets, one of the leaders in the financial services industry, is a significant sign of trust for us. It serves as proof of competence, showing that what we are building creates value on a larger scale. The overall impact of the partnership lies in the constellation of value – by combining the capabilities and assets of multiple stakeholders we create a new whole that is greater than the sum of its parts. It reflects the trend towards new “platform thinking” where, rather than do everything by themselves, companies, make the most of the best-of-breed solutions already out there today to deliver the end-customer a winning solution.” 

The partnership between Modularbank and Nets removes the burden of managing the complex payment card business from the institution wishing to issue cards to its customers. It ensures speed in launching or modernising their card business, cost-effectiveness in managing that business and extreme agility in building new customer use cases.

Henrik Anker Jørgensen, the CEO of Nets Estonia said: “Our partnership with Modularbank increases our customers’ innovation capacity while reducing time to market and the cost of maintaining their technology stack. Many banks and issuers struggle with legacy systems while trying to keep up with Neobanks that were born in the cloud. By partnering with Modularbank, we enable both the Neobanks as well as the traditional banks, to take the leap into the next generation.”

The partnership has already commenced with both teams closely working together and the first signed deals have already been confirmed. Future plans include allowing Nets´ current customers to have access to the rest of the capabilities provided by Modularbank’s next-gen core banking platform. 

Modularbank is a next-generation core banking platform. It underpins the aims of both regulated banks and other businesses in meeting customer needs and aspirations by enabling the rapid rollout of new financial services. The company was founded in 2019 by a small group of Estonian financial IT pioneers and entrepreneurs who have a strong background in banking. Current customers include one of the largest financial services group from Finland, a leading retail group in the Baltics and a Frankfurt stock exchange-listed fintech company operating in 23 countries. Find out more at Modularbank.co. 

Nets Estonia is a full-scale Issuer and Acquirer processor, part of the Nets Group.vNets sees easier products and solutions as the foundation for growth and progress – both in commerce and society. With more than 4000 employees located across Europe, the company helps financial institutions, businesses and merchants across Europe make tomorrow a little easier for their customers while delivering unrivalled security and stability. Nets is powering payment solutions for an easier tomorrow. Find out more at Nets.eu.

Microblink’s Head of Marketing Nina Šuljak is interviewed by The Fintech Power 50 Christophe Langlois at Finovate Europe 2019. They talked about identity onboarding, on device processing and augmented reality.

Microblink is an R&D company developing proprietary computer vision technology optimised for realtime processing on mobile devices. Advanced neural networks and deep learning techniques are used to process the fastest and the most accurate text recognition locally on a mobile device.

The Fintech Power 50 team came in numbers to promote our fintech collective, distribute our annual guide and interview a broad range of innovative demoing companies at Finovate Europe 2019 in London. Christophe Langlois, the CMO of the Fintech Power 50, caught up with Microblink’s Head of Marketing Nina Šuljak.

Microblink Interview at Finovate Europe 2019

We invite you to watch the short video Christophe shot on the floor at Finovate Europe 2019 with Nina Šuljak. 

 To make it even easier for you to watch the video, we invite you to click on any of the time stamps below:

1. The Demo
2. About Microblink
3. Why Finovate
4. Key challenges for Microblink in 2019

Become a The Fintech Power 50 Member

We thrive to help the best fintech companies on the market to drive their brand awareness and accelerate their growth all over the world. Each year, our carefully selected cohort of 40 fintech firms and 10 influencers will benefit from the inclusion in our annual guide which is available online and distributed all over the world via our 40+ media partnerships with the likes of Money 20/20 and Finovate.

We will also help them to exhibit at those events in a more cost-effective fashion and connect them with the trusted network of contacts in the global financial services industry our co-founders and CMO have built over the last 20 years. Those were the nominees for our inaugural 2018-2019 cohort. We will open this year’s nomination process very shortly, but if you believe your company oughts to join our fintech collective for 2019-2020, we invite you to contact us today!

It was a real pleasure to interview Microblink Nina Šuljak at Finovate Europe 2019. I was most impressed how fast their scanning technology works and their focus on security via on device data processing.

What are YOUR VIEWS on Microblink and Finovate Europe 2019? We invite you to leave a comment below, tweet us or connect on LinkedIn.    

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