Online Dutch bank Knab has expanded the remits of its back-office services partnership with payment and transactional services provider Worldline, signing a seven-year contract with the company.
In addition to its existing provisions of its Instant Payments back-office service, Knab will gain access to Wordline’s wider back-office processing product portfolio. This includes the facilitation of SEPA, high-value and multi-currency payment processing, in compliance with the European Payments Council and payment services directive 2 (PSDR2) regulations.
The integration of this portfolio into Knab’s back-office is expected to be operational within 10 months.
Ronald van der Horst, product owner of online payments at Knab, says: "In the past years, Worldline clearly demonstrated the effectiveness of their back-office portfolio and the benefits it brings for us. Therefore, we decided to extend the existing partnership. This will allow us to reduce complexity and free up resources to support our customers and clients even better."
Sheri Brandon, chief market officer for Northern and Western Europe at Worldline, comments: “The benefits of outsourcing back-office services to Worldline are clear. Our capability to act as an agile business partner is demonstrated by the extremely short time to market of Worldline's back-office processing product portfolio. Moving forward, we can support Knab in a broader range of their business and, in turn, help them to service their customers in the best possible way.”
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