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“BANKING REMAINS STUCK IN THE PAST.


TRADITIONAL BANKS


RELY ON 1970S TECHNOLOGY AND LEGACY SYSTEMS THAT ARE COMPLEX,


RISKY AND EXPENSIVE TO MODERNISE”


solutions for banks, blue chips, and governments including but not limited to HP, Indonesian banks, e-filing and e-taxation system for Indonesia and tier 1 European banks.


He watched industries like retail, music, transport and accommodation cleverly use platform technology to transform their industries within a rapidly evolving world. He saw how we have moved from a ‘product and solution’ economy to a relationship or marketplace economy.


Banking, however, remains stuck in the past. Traditional banks rely on 1970s technology and legacy systems that are complex, risky and expensive to modernise. These 20th century monolith systems were squeezed onto smaller screens and dubbed ‘mobile banking’. It simply wasn’t good enough.


So he decided to build a platform that would enable a bank to launch and operate at a fraction of the cost of traditional software systems, enable them to access their data and also help them to integrate third party products


and services that ultimately make a bank future proofed.


IBS journal: What has been your smartest move?


In early 2014, we contacted the CTO and team that built AirBank in the Czech Republic (one of the most successful digital banks in Europe) and asked them if they wanted to join the Leveris team to do something similar but on a global scale. They gladly accepted. So overnight Leveris went from a startup with a great vision, to a startup with a vision and also the experience to make it a reality.


IBS Journal: What has been your biggest challenge/setback?


Changes in customer expectations, low interest rates, increased requirements on capital and net margins, new sources of competition, not to mention the relentless march of technology, are all combining to threaten the banking status quo.


How a bank reacts will determine its future. For those who act fast,


there is a world of opportunity. It’s about educating C-suite bankers that the antidote to all of this change is a modular cloud-based banking platform. This is not a functional change, but a complete cultural change for a bank. Changing culture in huge corporations is a massive undertaking. It takes a true visionary to transform a bank. It takes balls. We are slowly but surely getting that message across.


IBS Journal: Where do you want to be in five years?


We are a SaaS company after all. Albeit one delivering financial solutions. We would like to be in a position to offer our platform to any company, banking or otherwise, no matter their size. Where they can sign up for a 30/60 day trial, slap their logo on the front-end and start running a bank in a sandbox environment. If they like it, we sign them up on a monthly/yearly basis. Simply put, try before you buy banking as a service (BaaS).


For further information on Leveris, visit: www.leveris.com


www.ibsintelligence.com © IBS Intelligence 2017


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