The partnership has been extended for seven more years. Credit: Ibrahim Boran on Unsplash.

Knab, an online bank based in the Netherlands, is extending its existing partnership with payments technology provider Worldline. 

Knab’s existing partnership with Worldline included the instant payments back-office service, which is part of the technology vendor’s modular back-office processing product portfolio.

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The extended collaboration will now also include support for back-office processing for handling SEPA Batch payments and multi-currency payments.

Knab product owner online payments Ronald van der Horst said: “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 to also include the processing of SEPA Batch payments and multi-currency payments. This will allow us to reduce complexity and free up resources to support our customers and clients even better.”

The tie-up has been extended to a seven-year contract. 

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Founded in 2012, the Dutch bank claims to cater to more than 300,000 customers. 

Worldline Financial Services chief market officer Northern & Western Europe Sheri Brandon said: “We are delighted to be extending our partnership with Knab. 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.”

In April this year, Italian banking major UniCredit selected Worldline as its Open Banking Third Party Provider (TPP). 

The two-year collaboration is aimed at enabling UniCredit customers to access their accounts in banks across Europe via an application programming interface (API).