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Friday, November 15, 2019

News > Fintech

five degrees plans to expand into North America

Sam Monk | 09:00 Wednesday 23rd October 2019

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.”

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