Today, Cake and Sopra Banking Software (SBS), announced that Cake for Banks Solution will now be available for SBS European Customers through Marketplace. For Cake, this is a new step in fulfilling its Belgian and European ambitions. SBS is hereby expanding the services they offer to their customers.
Belgian banking app, Cake, allows consumers to manage accounts from different banks in an intuitive way through the use of a single bank-independent app. It gives users automated and proactive insights into their income and spending. It also offers users the opportunity to make their bank accounts profitable, through the use of automatic cashbacks and revenue sharing services. Cake offers a number of features in the Cake banking app, including its cashback platform, for integration into existing banking apps.
Davy Kestens, CEO of Cake: “Integrating our turnkey solution requires a relatively limited technical effort for a bank. We relieve them completely, from building and maintaining the cashback platform to closing and managing commercial deals with the providers of discounts and promotions.”
As of today, this solution is also available through the SBS Marketplace.
Sopra Banking Software
The SBS Marketplace consolidates all offers provided by its FinTech partners. It will enable banks and financial institutions to leverage innovative use cases, combined with the power and richness of Sopra Banking Software’s products.
In order to provide the best possible experience and offers to banks and financial institutions, Sopra Banking Software selects FinTechs based on several criteria: added value for customers, reliability, and the speed at which their services are implemented and integrated into Sopra Banking Platform (SBP) – Digital Banking Suite.
Guillaume Blot, Chief Digital & Innovation Officer – Senior Vice-President at Sopra Banking Software: “SBS welcomes Cake as a new partner on our Marketplace enabling clients to extract the full value of the Cake for Banks unique capabilities via the SBP – Digital Banking Suite.”
Joined forces for better finance
Both companies highly value transparency and innovation. From a shared mission to make finance accessible to as many people as possible, and thus to build a better future, the collaboration was established.
In concrete terms, this means that SBP- Digital Banking Suite includes out-of-the-box integration with the Cake for Banks solutions.
Cake was founded early 2019 by tech entrepreneur Davy Kestens and 5 co-founders. Cake received a license from the National Bank of Belgium (NBB) on 9 July 2019 and now employs over 25 people.
The free banking app Cake was launched at the beginning of last year. The app aims to make bank accounts profitable again by giving automatic cashbacks on purchases. It also analyzes financial data to help users better understand, control and improve their finances. For companies, Cake is a marketing platform that, thanks to the processing of the anonymized purchasing behavior of its users, offers unique possibilities to reach (potential) customers with promotions and to acquire accurate and real-time insights and statistics about their market, competitors and customer segments.
Cake offers white-labeled solutions for banks to integrate cashbacks into existing banking apps.
Cake shares its revenues with its users.
About Sopra Banking Software
Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide.
The rich variety of our solutions, the strength of our conviction and our passion for innovation enables us to support our clients on a daily basis and in their future projects, as well as in their goals regarding financial inclusion.
Our customers, based in over 80 countries around the world, benefit every day from our technologies and software, as well as the expertise of our 5,000 employees.
Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services and software development. With more than 46,000 employees, the Sopra Steria Group generated a turnover of €4.3 billion in 2020.
Source: Sopra Banking Software
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