Amsterdam, 2 September 2021 – Franx, the global trading platform initiative of ABN AMRO, migrates to °neo. Aiming at maximum convenience for their clients to support their international businesses, the core technology will be provided by Five Degrees from the Microsoft Azure cloud.
Since its launch in 2018, Franx offers clients currency transactions and international payments from one single digital platform. To utilize the possibilities of their Azure strategy, the Dutch-based FX transactions provider selected °neo as their core banking technology which will be delivered as Software-as-a-Service from the Azure cloud.
Ronald Lokkers, General Director at Franx comments: ‘After a thorough selection process, we choose °neo as it caters to our multi-currency requirements and fits our Azure strategy. It was important for us that °neo supports our high standards for cloud technology. With Five Degrees, we have a partner that not only provides a strong technological fit but also continually shows an expert understanding of our specific banking products and processes.’
Martijn Hohmann, CEO, and founder of Five Degrees states: ‘Franx and Five Degrees have found each other as we are both keen to change banking services through modern technology. We are delighted to take this partnership to new next level.’
°neo was introduced by Five Degrees to the market just before the summer, and Franx becomes the 3rd client following SME lender Swishfund and pension bank Brand New Day.
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