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De Volksbank Migrates More than 120,000 Investment Accounts to Ohpen

De Volksbank, a retail and SME bank in the Netherlands, has migrated over 122,000 investment accounts to Ohpen’s core banking platform, reports Tanya Andreasyan of Banking Technology, Finovate’s sister publication.

Ohpen says the bank “has now completely and seamlessly integrated its investment services into its internet banking environments” using the vendor’s API.

“All investment processes – from the opening and maintenance of an investment account, to order execution and portfolio management – from the different internet banking environments of ASN Bank, BLG Wonen, RegioBank and SNS [de Volksbank’s brands] are managed in Ohpen’s core banking platform,” the vendor states.

Alexander Baas, COO at de Volksbank, describes the migration as “smooth”.

De Volksbank carries multiple brands with a single back office and IT organisation. The product range consists of three core product groups: payments, mortgages and savings. De Volksbank has a balance sheet total of €62 billion and about 3,500 employees.

Founded in 2009 and headquartered in Amsterdam, The Netherlands, Ohpen demonstrated its core banking platform at FinovateFall 2012. The company picked up an investment of $17 million earlier this year in a Series B round led by Amerborgh. Chris Zadeh is founder and CEO.