The key driver for creating this partnership is that both companies offer complementary products that integrate seamlessly and strengthen payment processes. A maintained integration limits the time needed for implementation into the banking ecosystem. The companies confirm a first client successfully using the integration.
Maurits van Schooneveld, Head of Business Development at °neo by five°degrees: ‘‘Thanks to the SEPA Direct Debit capabilities into the °neo platform, we can focus on enhancing the functionalities of our cloud-native core banking system. Twikey enables incoming and outgoing payments, and the °neo platform is the state-of-the-art back-end core banking platform that initiates and administrates those payments. We aim to have a long-lasting cooperative partnership with Twikey for direct debit handling and other payment services with an out-of-the-box connector we can offer to all our clients’’.
Benjamin Alkemade, Sales Director at Twikey: ‘‘We are constantly looking for strong partnerships, and we are therefore particularly pleased to strengthen the °neo platform functionality with our software. We are particularly thrilled that with °neo, we can continue to optimize the customer payment experience. We are looking forward to our long-term and fascinating cooperation with °neo by five°degrees’’.
A SEPA Direct Debit, also known as the Single Euro Payments Area - is a European Union (EU) initiative to harmonize payments. The process allows a creditor to collect funds from a customer's bank account by providing a signed mandate to the creditor to pay the collection.
The biggest advantage of direct debit is that customers avoid the risk of overdue payment charges owed to a missed payment deadline by automating payment transactions. Twikey's automated failure management ensures that all direct debit invoices are collected without any administrative intervention if a direct debit fails.
Twikey was founded in April 2013 to improve the administrative flow that direct debits entail. The company's primary goal is to maximize conversion to recurring payments and automate the internal direct debit process. Through constant innovation and collaboration with customers, Twikey has been transformed into a one-stop shop for online payments (direct debits, online payments, and payment links).
°neo by five°degrees is a cloud-native core banking solution that enables financial institutions to meet today's standards. The platform was born in 2019 with a mission to support financial products for banks and lenders that want seamless SaaS loan management technology. °neo combines a deep knowledge of banking, years of experience, and outstanding technological expertise. Its users benefit from a next-gen core banking system that provides banking-grade granularity in combination with extensive data management capabilities, a codeless configuration and a best-in-breed ecosystem.
