FIS’ treasury management solution to power Lunar’s mobile-only digital bank
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FIS’ treasury management solution to power Lunar’s mobile-only digital bank 26 November 2020UK Reporter: Maddie Saghir
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FIS’ cloud-based treasury and risk management solution has been selected by Lunar to enable its mobile-only digital bank to optimise liquidity and manage risk as it continues its expansion.
The Denmark-based bank picked FIS’ private cloud-based Ambit Quantum, a front-to-back treasury and risk management solution, to manage liquidity, hedge accounting and regulatory compliance.
It will implement the solution on the FIS private cloud under a managed services contract.
Lunar received its banking license last year and offers consumers and businesses throughout the Nordics comprehensive savings, investments and insurance products via a sleek, easy-to-use digital app.
The challenger bank explained it was looking for a leading-edge treasury management solution that provides rich functionality while leveraging open application programming (API) interfaces to ensure simple integration with cloud-based applications.
Additionally, Lunar will leverage the FIS SWIFT Service Bureau to securely connect its treasury and payment operation to banking partners through SWIFT and other industry exchanges and networks.
Anders Hartlev, CFO at Lunar, commented: “We’re excited to work with FIS as we look to change banking in the Nordics. Our goal is to change the way people think about and spend their money, and technology is the enabler in that revolution. This innovative solution from FIS will provide us the tools we need to manage risk and maximise our liquidity as we continue to expand our client base and portfolio of offerings.”
“In today’s uncertain business environment, it’s more critical than ever that banks have an accurate, real-time view of their treasury payments, cash flow, and portfolio risk. We are excited to welcome Lunar as a new FIS customer and are confident that our treasury and risk management solution will provide the platform this digital bank needs to support and power its continued growth,” added Andrew Bateman, head of capital markets buy side at FIS.
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