Moneyou goes live on Bankable’s Banking-as-a-Service platform

Moneyou goes live on Bankable’s Banking-as-a-Service platform

Moneyou, the digital consumer subsidiary of Dutch bank ABN Amro, has implemented UK-based Bankable’s Banking-as-a-Service (BaaS) platform.

The service is now open to selected customers in the Netherlands. Moneyou provides savings accounts to more than half a million customers and says it is diversifying via Bankable’s multi-wallet and multi-card technology to launch a product portfolio targeted at millennials in the Netherlands and Germany.

Liesbeth Rigter, Moneyou’s CEO, says: “Our business model with a lean setup is based on close co-operation with our partners. The flexibility of Bankable’s BaaS platform allowed us to go to market faster than opting for bespoke development with on premises integration. It also prevents any future legacy issues thanks to its open evolution capability.”

Eric Mouilleron, Bankable’s CEO and founder, adds: “We need to be two to tango… as we promote a transaction based model instead of a software license, increased with maintenance cost and an implementation by expensive consultants, our success is aligned with Moneyou.”

Moneyou was launched by ABN Amro under a separate brand in 2001 and also has offices in Germany, Austria and Belgium.

For its core banking system, Moneyou uses the Sopra Banking Platform.