Company: Ohpen
Founders: Matthijs Aler (CEO)
Website: https://www.ohpen.com/
About Ohpen
Founded in the Netherlands in 2009 Ohpen emerged as a pioneer in the fintech sector, becoming the first company to build a core-banking platform entirely in the cloud. This was the beginning of Ohpen’s journey to revolutionise the banking industry.
Ohpen is on a mission to create future-ready financial services. The company is committed to serving financial services providers that want to provide the best user experience for clients, employees and brokers alike. Through its modern core-banking platform, Ohpen offers mortgage, loans, savings, investment and pension capabilities enabling financial institutions to streamline their operations across the financial ecosystem.
The chosen approach – one platform for all clients – is a concept previously unheard of in the industry, making Ohpen unique in the market. The single platform allows for consistency and efficiency across various financial services providers, including banks, mortgage lenders, building societies and pension funds. Ohpen’s cloud-native solution enables financial institutions to outsource core services, significantly improving agility, operational efficiency and scalability.
Ohpen’s API capabilities also enable financial services companies to launch new products faster and respond quicker to evolving consumer needs. By creating real-time and seamless processes, Ohpen helps financial institutions better serve their customers, which improves the experience for all. In fact, Ohpen’s customers have reduced time to market for new products by two thirds on average and cost to market over 50%. According to Arjen Jongma, senior vice-president, manager of IT change, at Robeco, the company has migrated over 200,000 customers, provides better insights on customers’ portfolios and with Ohpen experienced a 40% cost reduction.
Ohpen’s journey has not been without challenges. Before securing its first client, Robeco, in 2012, Ohpen battled a cautious banking market, dealing with rejections from European financial institutions not ready to embrace cloud computing. However, with Ohpen, Robeco, an international asset manager based in Rotterdam, became the first bank in the world to move its core processes and data to the cloud. Another significant milestone for Ohpen was reached in 2013 when De Nederlandsche Bank approved the use of Amazon Web Service (AWS) cloud for banking applications, which was crucial for Ohpen’s growth.
Today, Ohpen has over 25 customers worldwide. Over the past 15 years Ohpen has invested more than two million development hours into its platform. The result is a system that has maintained 100% uptime since its inception, processing hundreds of millions of transactions annually. This has cemented Ohpen’s reputation as one of the fastest and most accurate banking systems available.
Ohpen’s success in the Netherlands has fuelled international expansion, including entry into the UK market.
Ohpen continues to challenge traditional banking software models and drive digital transformation via the adoption of cloud-based solutions. Ohpen’s evolution from a pioneering startup to a trusted partner for financial institutions worldwide highlights an unwavering commitment to innovation in the fintech sector and liberating banks from their legacy processes. Ohpen’s aim is to build financial technology that works better for everyone, balance agility with compliance, and transform core-banking processes to enable innovation.
Check out what TechRound can do for your business:
SEO, PR, HR Software, Payroll Software, IT, VoIP.
