Dutch banking software provider Five Degrees has partnered with UK-based ieDigital to develop a new comprehensive digital banking portfolio to meet client requirements.

Leveraging ieDigital’s Interact digital engagement platform and Five Degrees’ Matrix banking platform, the new portfolio will help the financial institutions to develop end-to-end banking products.

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The new digital banking solution will aim to provide personalised digital experience to the customers. It is also expected to help the companies generate new revenue opportunities.

Five Degrees CEO Martijn Hohmann said: “Five Degrees’ partnership with ieDigital will enhance the digital experience for our customers and prospects and reinforce our proposition by adding world-class consumer-oriented solutions to our offering.

“Furthermore, this agreement grows our business and secures our leadership position in banking across the globe.”

Most of the financial institutions continue to use old back-end applications with digital front-end. The partnership aims to address this issue enabling its clients to upgrade their core systems.

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ieDigital CEO Jerry Young said: “Our advanced digital banking platform in association with the existing Five Degrees’ core banking platform, will provide a seamless and cost effective operation for financial institutions that desire to remain competitive, and prioritise investment in this area.

“Our joint partnership strengthens the ability to help financial institutions to transform progressively, in order to meet future market needs while ensuring a superior customer experience.”

Headquartered in London, ieDigital is said to have been selected by four of the UK’s five largest banks.

Founded as Intelligent Environments in 1985, the company rebranded itself as ieDigital in June this year.