Cloud banking provider Ohpen has migrated close to one million Dutch and German savings accounts of LeasePlan Bank to its core banking engine in the bank’s major technology overhaul, reports Sharon Kimathi of Fintech Futures (Finovate’s sister publication).
The project was completed by migrating the aforementioned accounts and more than 17 million historical records. The smooth transition was the result of a close collaboration between LeasePlan Bank and Ohpen, the vendor said.
“We set out to reduce our IT complexity and improve the flexibility, reliability and efficiency of our services, whilst wanting to avoid any negative customer impact as much as possible during the transition phase,” said Sander Frons, director at LeasePlan Bank.
Frons believes that the migration and implementation to the purely cloud-native Software-as-a-Service (SaaS) solution from Ohpen was a textbook example of how such an operation should be run.
Angelique Schouten, board member at Ohpen, observed that “more and more financial organizations want to increase the digitization of their technology stack, and at the same time want to decrease their IT complexity”.
In the case of LeasePlan Bank, the Ohpen Platform replaced a number of legacy solutions, including Flexcube from Oracle FSS, which were installed on-premise. The new platform is hosted on the Amazon Web Services (AWS) cloud.
Ohpen demonstrated its core banking platform at FinovateFall 2012. Founded in 2009 and headquartered in Amsterdam, The Netherlands, the Ohpen announced earlier this year that NPM Capital had acquired a 35% stake in the company. Ohpen began 2019 with a big change at the top, appointing its Chief Operational Officer Matthijs Aler as CEO. Aler replaced Ohpen founder Chris Zadeh, who will continue to serve as chairman of the company’s board of directors.