Case Study: Brand New Day launches a digital savings bank with Five Degrees Matrix Accounts

How five°degrees and Brand New Day Bank has built a new digital bank from scratch in just 5 months

Brand New Day, a Dutch challenger bank focused on pensions, needed a core banking system to support its new online savings bank after acquiring Allianz Nederland Asset Management and expanding to more than 250,000 customers. The company was looking for a low-cost solution that would complement its existing infrastructure without duplicating functionality. Five Degrees, with its Matrix accounts product, was selected to fill that gap.

Five Degrees implemented Matrix accounts as the core banking layer for Brand New Day’s savings products, with smooth integration alongside the bank’s existing systems and a straightforward path to add accounts functionality. The platform helped Brand New Day launch a new digital bank from scratch in just five months and migrate acquired clients within the time available between obtaining its banking licence and going live, while also laying the groundwork for future payments functionality such as direct debits and a full payments gateway.

Brand New Day

Gerjan de Lange

Director