Fidor Solutions: The Go-To Platform for Digital Banking
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Fidor Solutions, the fastest growing banking solution provider is on a mission to deliver best-in-class digital banking experiences to banks and consumer-led organizations. The company doesn’t just offer a groundbreaking open banking platform to banks but partners with them to build a digital bank while allowing them to piggyback on their innovation and succeed. The story of Fidor Solutions traces back to the early days when they had just stepped into the banking industry, with Fidor Bank. During this stint, Fidor and its proficient team quickly realized that they could not build a digital bank with existing legacy software in the market. Their quest for a technology that could integrate both the world of customer engagement and back-office systems of banking led to the foundation of fidorOS, a proprietary digital banking open platform equipped with all the features that a bank needs and can control and connect with everything. From onboarding, card and account management, to analytics, fidorOS has it all covered.
The philosophy of fidorOS is based on the three pillars: customer engagement, data in combination with artificial intelligence, and orchestration. Customer engagement is about acquiring and building customer loyalty with the platform’s community module, which is fully integrated with banking functions. Then to understand customer pattern and behavior, the platform’s data layer—in combination with artificial intelligence—gathers and analyzes data from every customer touch point. Once the customer base is set, and their requirements understood, Fidor moves on to orchestration, providing customers the ability to cherry-pick the best products in Fidor Market, an open banking ecosystem with a secure and trusted environment.
By redefining the customer-centric banking, we have become the go-to solutions provider in financial services for a customer
“Our open banking platform helps banks achieve relevance in the digital world by offering a deeper and more satisfying experience to the end customer,” says Gé Drossaert, board member and group CCO of Fidor Solutions.
Majority of customers approach Fidor Solutions for the fact that they can partner with them for the future to develop innovative products at an affordable price. The rich knowledge that Fidor has in the open banking arena and the creativity that they bring to the table is what makes them second to none. Drossaert says, “Basically, by redefining customer-centric banking, we have become the go-to solutions provider in financial services for a customer.”
Drawing on years of experience in open banking, Fidor has developed the banking platform with over 300 APIs and sandbox, completely ready for open banking. The company’s API-driven framework supports functions around banking and payment, in addition to several community features and third-party services.
The company’s partnership with ADIB, one of UAE’s leading banks speaks volumes of their success. ADIB approached Fidor with the need to provide exceptional digital banking services and to educate its customers on the use of modern financial resources. With the help of fidorOS, the bank launched a highly interactive digital community platform ‘moneysmart’, where financial knowledge and advice can be exchanged among peers and experts through mobile, web, and social media interfaces. Fidor’s technology helped the bank reinforce its position as a pioneering digital bank in the UAE, supporting and delighting customers of today and the future.
With the central theme of financial inclusion in sight, Fidor currently focuses internationally on emerging markets in the financial banking arena as they are gaining more traction. The company helped create Banxy, Algeria’s first mobile bank with Natixis, experiencing a 100% geographic reach in a few months. The company’s product vision is supported by the mission of creating dynamic, interactive, and most importantly, relevant engagement with a bank whenever the customer needs it. “When most of the software in the world is focused on processing transactions, our philosophy is to use advanced technology to optimize our relevance toward customer behavior,” says Drossaert.