Fintech firm five degrees has revealed plans to expand its operations into North America.
The company is looking to open an office in either New York or Toronto following the signing of a new client.
five degrees combines state-of-the-art technology and knowledge to create what it describes as a flexible, reliable and future-proof digital banking platform.
In an exclusive interview with Specialist Banking, Santosh Radhakrishnan, vice president and member of management at five degrees (pictured above), highlighted North America as the “next wave” for the company.
“…We have signed a client now in North America … and [off] the back of that we are now exploring options of opening either a US or Canada office, [but] it depends on the feasibility of the outcome; [it] could be New York or it could be Toronto.”
five degrees is expecting to open the new office in H1 next year.
Nikhil Sengupta, head of UK sales and business development at five degrees, outlined that the beauty of technology was that it could cater to a variety of client types.
“[This can be] some of your larger tier 1, tier 2 banks as well as the smaller subsidiaries and specialist finance firms.
“[However], although we like to service across the whole demographic of clients, what excites us, a lot, is trying to find the next big challenger bank, the next big lender.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...