Xinja has selected SAP Cloud for Banking to power its planned ‘neobank’ – an independent digital bank designed entirely for mobile.
The partnership will see the enterprise application software company implement its SAP Cloud for Banking platform to drive a simple, agile solution that delivers fast customer onboarding and real-time risk and financial assessment, as well as enabling Open Banking capabilities.
Xinja is not a bank and cannot conduct banking business yet, however it has recently applied for a restricted banking licence from the Australian Prudential Regulation Authority later this year.
This SAP core banking solution will play a key role in Xinja’s journey to becoming an independent start-up neobank for Australians.
Eric Wilson, founder and CEO at Xinja, said that it was incredibly excited about this partnership with SAP.
“It means that right now, we have a world-class technology platform that will allow us to develop fantastic products for our customers into the future, as we work alongside a global company with a wealth of experience in the financial services sector.
“This is certainly a powerful combination of the energy and vision of Xinja merging with SAP’s ability to create, build and deliver world-class banking services.
“The speed and flexibility of the new cloud-based core banking platform gives us the potential to revolutionise banking.”
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