Trifork, a next-gen IT solutions provider, and Modularbank, a Cloud-enabled Core banking tech firm, have agreed to an integration partnership, solidifying both firms’ banking and Fintech product offerings.
As banking continues its rapid digital transformation from physical branches to all-digital platforms (a trend accelerated by the COVID outbreak), it has become critical for the financial sector to deploy manageable and seamless digital solutions.
Modularbank has developed what it considers to be a highly-configurable Core banking solution. It features an extensive set of retail and business banking capabilities. The company assists financial industry participants with quickly developing, testing and introducing various new products and experiences, all of which have their foundation built on the Core.
Trifork’s management noted that they’ll be leveraging their extensive experience in creating innovative Fintech services in order to build add-on features to Modularbank’s Core banking stack while supporting clients within the financial services sector (throughout the implementation process).
Peter Rørsgaard, COO at Trifork FinTech, stated:
“Fintech is a core business area in our growth strategy, and the partnership with Modularbank, who has developed a platform allowing both established financial service companies and fintech startups to quickly roll out tailored digital services, further strengthens our offering within the important and fast-growing fintech segment.”
Modularbank’s platform includes a set of independent modules, enabling clients to select the exact capabilities and functionalities they require to address their business needs.
Its API-first approach aims to support quick integration with various other services and platforms, allowing the roll-out of different product offerings in a flexible, fast and cost-effective manner, especially when compared to the outdated, legacy banking services.
Julien Douve, Alliance Manager, Modularbank remarked:
“Partnering with Trifork, an IT and business services provider with such a significant presence throughout Europe, enables us to better serve our quickly growing customer base. Combining our flexible and lightweight core banking technology with Trifork’s reach and proficiency in building new use cases, we will bring fintech innovation to more and more customers within Europe, letting them unlock the full potential of our core banking platform.”
Before entering into this partnership, Trifork and Modularbank had been working cooperatively on several different customer cases.