Nordic Digital Bank Lunar Embraces the Power of the Cloud With FIS’ Treasury Management Solution
- Cloud , FinTech StartUps
- 25.11.2020 11:04 am
Denmark-based Lunar has selected a cloud-based treasury and risk management solution from financial technology leader FIS® (NYSE: FIS) to enable the mobile-only digital bank to optimize liquidity and manage risk as it continues its rapid expansion.
Lunar, which received a banking license in 2019, offers consumers and businesses throughout the Nordics with comprehensive savings, investments and insurance products via a sleek, easy-to-use digital app. The challenger bank, which prides itself on technology innovation, was looking for a leading-edge treasury management solution that provides rich functionality while leveraging open application programming (API) interfaces to ensure simple integration with cloud-based applications.
The Nordic bank chose the FIS private cloud-based Ambit Quantum, a front-to-back treasury and risk management solution, to manage liquidity, hedge accounting and regulatory compliance. Lunar will implement the solution on the FIS private cloud under a managed services contract.
In addition, Lunar will leverage the FIS SWIFT Service Bureau to securely connect its treasury and payment operation to banking partners through SWIFT and other industry exchanges and networks. Seamless integration through API gateways will allow Lunar and its customers to access up-to-date information on the Lunar banking app.
“We’re excited to work with FIS as we look to change banking in the Nordics,” said Anders Hartlev, CFO at Lunar. “Our goal is to change the way people think about and spend their money, and technology is the enabler in that revolution. This innovative solution from FIS will provide us the tools we need to manage risk and maximize our liquidity as we continue to expand our client base and portfolio of offerings.”
“In today’s uncertain business environment, it’s more critical than ever that banks have an accurate, real-time view of their treasury payments, cash flow, and portfolio risk,” said Andrew Bateman, Head of Capital Markets Buy Side at FIS. “We are excited to welcome Lunar as a new FIS customer and are confident that our treasury and risk management solution will provide the platform this digital bank needs to support and power its continued growth.”