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
Rigour builds resilience
There is a relentless flow of new technologies and development methodologies unfolding on many fronts in the financial services arena...
Enhancing offerings to SMEs with the use of technology
Small- and medium-sized enterprises (SMEs) make up a significant proportion of British businesses...
New digital bank Vive receives banking licence
New digital bank Vive has received its UK banking licence with restrictions from the Bank of England...
Aldermore names Damian Thompson as new group MD for retail finance
Aldermore has named Damian Thompson (pictured above) as its new group managing director for retail finance, subject to regulatory approval...
Tink closes €90m investment round
Tink has completed a €90m (approximately £76.8m) investment round — its largest funding to date — to support its European expansion...
Step back from the hype: what can AI realistically deliver in 2020?
While talk of artificial intelligence (AI) in financial services generates great excitement, it’s important not to get too carried away and caught up in overly ambitious uses of the technology...
Temenos launches microservices architecture tool for large banks
Banking software company Temenos has launched Temenos Transact — a microservices-based architecture tool designed for large banks...
Starling Bank enhances product offering for SMEs
Starling Bank has enhanced its product offering for businesses and sole traders with a range of new features...
2020 vision: Open Banking is open for business
Last year was a major one for Open Banking. September’s PSD2 deadline encouraged banks to accelerate their efforts to become compliant, and while the nuts and bolts of the technology did pose a challenge, the opportunity for both banks and third-party providers (TPPs) has finally come to light...
FCA calls for easy access cash savings reform
The FCA has proposed to reform the easy access cash savings market...
HTB launches new 30-year, interest-only loans
Hampshire Trust Bank (HTB) specialist mortgages division has launched 30-year, interest-only loans...