Majorel Digital Banking™
As customers have high expectations regarding digital CX, providing a satisfying experience has become a key differentiating factor for financial services businesses. We have developed a modular digital banking platform to support financial service providers in digitizing and optimizing their processes and services.
The Majorel digital banking platform helps our clients significantly improve conversion rates of new accounts, improve customer experience and increase revenue generation via optimized conversion rates, and cost savings – for example, by relieving the workload of employees in branches or back office. Six of Europe’s ten largest banks already connected to our platform.
One of our platform’s core processes is the account switching service – Majorel Switch – based on the PSD2 application programming interface (API).
To use this API and thus access bank accounts, we are registered as an account information service with BaFin, making us a payment service according to German law. By using the PSD2 standard users can inform their payment partners within minutes, based on account information retrieved from their previous bank with one click, significantly improving activation rates.
In addition, our platform includes a security account transfer service that transfers securities to a new bank account per eSignature. Furthermore, we offer an integrated pricing model that allows for both cost-effectiveness and profitability.
Having more than eight years of experience in account switching, we believe we have become experts in analyzing and understanding account information. We leverage our know-how to build data-driven solutions enabling banks to make full use of the information gathered in the course of their business.
Acquisition of ISILIS
In order to further strengthen our digital banking offering, we have recently acquired Société ISILIS, a leading French software-as-a-service (SaaS) platform dedicated to premium account switching processes. Other services include inheritance management and anti-fraud services. ISILIS’s platform provides full compliance with regard to regulatory constraints and offers optimized banking processes and customer satisfaction through a high-quality monitoring service and a white-labeled specialized customer service.