Knab collaborates with Worldline on SEPA batch payments and multi-currency payments
Knab, a Dutch online bank founded in 2012, has extended its existing partnership with Worldline. In addition to the existing Instant Payments back-office service, Worldline will now also facilitate back-office processing for handling SEPA Batch payments and multi-currency payments. The partnership has been extended for a seven-year contract.
As part of this partnership, Knab will continue to benefit from a dedicated access to Worldline’s Instant Payments back-office service, part of Worldline’s extensive and modular back-office processing product portfolio. This portfolio can also handle other payment solutions such as SEPA, high-value and multi-currency payments, which will also be handled by Worldline following the extension of this partnership. This modular EPC (European Payments Council) and PSD2 compliant portfolio can be used by any bank.
The implementation of this portfolio can be secured within ten months. This short time to market allows Worldline’s customers, such as Knab, to quickly reap the benefits of outsourcing and rapidly provide their end customers with solid and future-proof solutions.
Sheri Brandon, Chief Marketing Officer Northern & Western Europe of Worldline Financial Services:
“We are delighted to be extending our partnership with Knab. The benefits of outsourcing back-office services to Worldline are clear. Our capability to act as an agile business partner is demonstrated by the extremely short time to market of Worldline’s back-office processing product portfolio. Moving forward, we can support Knab in a broader range of their business and, in turn, help them to service their customers in the best possible way.”
Outsourcing back-office services is a viable solution for companies, including banks, seeking to introduce new operating models for their payments processing business. While lowering costs on one hand, it also allows them to reduce complexity and use their resources more efficiently in areas where they can make a difference.
Ronald van der Horst, Product Owner Online Payments of Knab:
“In the past years, Worldline clearly demonstrated the effectiveness of their back-office portfolio and the benefits it brings for us. Therefore we decided to extend the existing partnership to also include the processing of SEPA Batch payments and multi-currency payments. This will allow us to reduce complexity and free up resources to support our customers and clients even better.”