Munich-headquartered Dab bank has signed for the Kordoba Core24 banking system from US fintech vendor Fis.
Slated to to go live next year, Kordoba Core24 will handle processing for a range of Dab services, including current accounts, term deposits, savings, payments, and foreign exchange, as well as general bank management.
The system will also be integrated with Dab's legacy transaction processing and portfolio administration applications.
Under the deal, Fis will provide consulting, development, customisation, and design and analysis of test runs prior to migration of customer and bank data to the new system.
Explaining the bank's choice, Klaus-Peter Weiss, head, IT, Dab, says: "Fis Kordoba is committed to developing and updating its systems in line with changing regulatory, compliance and business requirements. This is essential to ensuring the sustainability and future protection of the bank's IT investment that we were looking for."