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Company profile

Founding year

2018

Funding round

Pre A

Raising funds

No

Country

Estonia

Employee number

8

Pitchdeck

Problem they are solving

We’re tapping on the following challenges in banks’ and financial institutions’ daily business:
– Inability to launch new banking lines (accounts, payments, loans) fast and on the side of your existing business
– Outdated systems incl. the core
– A technical conundrum in launching a new financial institution

Solution to the problem

Modularbank offers a fully functional core banking platform built by seasoned experts and based on decades-long experience in the financial technology sector. Its API based functionalities include accounts, payments, cards, deposits, loans, collaterals and a financial event engine.

It has has everything a bank or credit institution needs for compliant day-to-day operations.

For new financial institutions, Modularbank offers a retail banking solution off the shelf.

For existing ones it’s perfect for:
– Launching business lines or replacing legacy systems
– Introducing new services without replacing existing systems
– Launching new loan and deposit products without development.
– Getting a real-time view of your banking business.

The platform is based on microservices architecture. Each module is a separate service offered over APIs.

Modularbank works under multi-region, multi-tenant, multi-process and product configuration setup. It allows serving customers in different time-zones and jurisdictions. Both SaaS and in-house options are available.

Market traction

We currently have three customers signed.

Modularbank is the basis of the new banking core of a Frankfurt stock exchange-listed banking group active in 25 European countries. The first live was in mid-June 2019. The functionalities include accounts, deposits, loans and credit, SEPA and P2P payments.

Modularbank is also the selected technology provider for an established international crowdlending platform’s new banking venture.

Different type of use case is a regional retailer whose new credit line (launched by the end of 2019) will run on Modularbank.

Success story

Modularbank is the basis of the new banking core of a Frankfurt stock exchange-listed banking group active in 25 European countries. The first live was in mid-June 2019. The functionalities include accounts, deposits, loans and credit, SEPA and P2P payments.

Expansion plans

We’re currently in the process of starting our operations in the DACH market.

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