Pictured: Conor Fennelly, founder and CEO, LEVERIS
LEVERIS, an Irish-based financial technology company, has delivered a digital banking platform that is entirely software-defined, based in the cloud and completely independent of legacy core banking technology.
Incorporated in 2016, LEVERIS is headquartered in Dublin with offices and development centres in Prague, Brno and Minsk and a team of over 200. The new technology has enabled the financial services firm Link Group to enter the Dutch market and is now executing loans and servicing millions of euros for three Link Group clients.
Since deployment, the LEVERIS Digital Banking Platform has helped deliver a 70 per cent reduction in average application to drawdown time, enabled the onboarding of additional lenders to the platform in less than four weeks, and delivered a significant reduction in operational costs for Link Group.
Management of Payment Breaks
LEVERIS 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,” said LEVERIS founder and CEO Conor Fennelly. “During this period, businesses and consumers have sought out digital solutions that ensure products and services are delivered safely and seamlessly.”
He added: “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.”
This new technology will reduce the cost of digital transformation for legacy banks and enable new entrants to set up fully functional digital banks within a matter of weeks from a standing start. For consumers, this heralds a new era in digital banking, presenting lower costs, greater competition and better innovation as Banking-as-a-Service (BaaS) becomes a reality.
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.
Commenting on LEVERIS’ early successes, Carol Gibbons, Enterprise Ireland Divisional Manager ICT and International Services, said: “COVID-19 is accelerating the move to digitisation for many Irish companies and LEVERIS is well placed to benefit from this trend with its innovative digital banking platform. We wish the LEVERIS team success as they expand in Ireland and in overseas markets.”
