De Volksbank, a Dutch retail bank, has switched over 122,000 investment accounts to Ohpen’s core banking platform.
The migration was carried out using the Ohpen application programming interface (API). Ohpen’s core platform manages various investment processes including the opening and maintenance of an investment account, order execution and portfolio management.
Ohpen CCO Matthijs Aler added: “We are very proud of our joint performance: investment processes were renewed, integrated and migrated in a very short amount of time. By outsourcing all operational processes, de Volksbank can focus on product innovation and optimal customer service.”
De Volksbank COO Alexander Baas said: “The migration to Ohpen has further improved usability and enables us to provide a solid investment administration that our customers can continue to rely on.”
De Volksbank, formerly known as SNS Bank, was rescued by the Dutch government in 2013 and have since been state owned. The bank currently manages €62bn and employs nearly 3,500 staff.