Irish start-up financial technology company Leveris has broken new ground in efforts to unlock the benefits of pure digital banking.
Leveris is a digital banking platform that is entirely software based, sits in the cloud and is completely independent of legacy core banking technology.
Its technology is already live and has enabled financial services firm Link Group - the largest independent loan servicer in Europe - to enter the Dutch market.
The platform enables banks and non-banking firms to offer a wide variety of retail banking products.
These include current accounts, deposit and savings accounts, multi-currency accounts, payments and direct debits, debit card cashback, personal loans and mortgages.
It also offers fraud monitoring, real-time notifications, mobile and web channels and back office servicing interfaces.
The company said its 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," the group's founder and CEO Conor Fennelly said.
"During this period, businesses and consumers have sought out digital solutions that ensure products and services are delivered safely and seamlessly," he added.
Conor Fennelly said that 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," he added.