Digital financial services grow with platform models
The fintech companies homie and arvy are strengthening Hypothekarbank Lenzburg's banking-as-a-service business. Homie uses Hypothekarbank's solutions for rental deposit accounts. Arvy uses them for digital asset management services.
Hypothekarbank Lenzburg has gained two new partners for its Banking-as-a-Service business. Bern-based homie AG and Zurich-based arvy AG will be using the bank’s own onboarding and account solution in future, Hypothekarbank Lenzburg announced in a press release.
Banking-as-a-Service (BaaS) is a newer business area of the bank and connects third-party providers of financial services without a banking licence to the Finstar open banking platform developed by the bank. The new partnerships show “that our BaaS offerings in the areas of rental deposits and digital asset management are in demand and that we are gaining breadth in the BaaS business in the Swiss financial market”, Reto Huenerwadel, Head of Market Services at Hypothekarbank Lenzburg, is quoted as saying in the press release.
Fintech homie will use Hypothekarbank Lenzburg’s solutions to open and operate digital rental deposit accounts. “Together with Hypothekarbank Lenzburg, we are noticeably simplifying the entire process for property managers and tenants,” homie CEO Arben Lekaj is quoted as saying in the press release.
Fintech arvy, on the other hand, uses Hypothekarbank Lenzburg’s solutions for its own accounts and securities custody accounts at Hypothekarbank and other digital asset management services. “We don’t just want our customers to invest, we want them to really understand what they are investing in,” explains arvy co-founder Patrick Rissi. “The partnership with Hypothekarbank Lenzburg enables us to realise our vision efficiently and in compliance with regulatory requirements.”