Building neo-bank in 6 months: case of Finangel
Новости 31 мая 2019 г.
Just half a year ago - it was a dedicated team of professionals with an idea to build a community-based bank. Now it is a new operating digital bank working at their full and growing capacity. This story will tell you how.
In early November the client had a goal of creating neo-bank in shortest time possible. To-do list for the launch was immense. Besides website and app development, the team needed to find a way to process payments, issue and support Mastercard cards, as well as match capital requirements and receive licensing, both from regulator and card system. The most efficient option was clear - outsource. Though number of counter-parties, if managed separately, was beyond reasonable. Luckily Decta had the offer, which solved all industry-specific problems at once.
Finangel was offered a single integrated solution, which includes everything from Application Program Interface (API), to control and automatically operate the card program, to card delivery to the customer with further card servicing. Following client's agenda, project launch was possible within remarkably short time frame. From the moment of signing the contract (November 8, 2018) to issuing the first card in Finangel design (December 17, 2018) have passed less than 2 months. During this time was possible: to sign the contract, integrate the API, coordinate the card program in Mastercard, agree on the design of plastics, manufacture and deliver 100 000 plastics to the personalization bureau, as well as send cover letters for first card users. Since then Finangel have launched several versions of the app and issued first 1000 to the customers for beta-testing. Now under Decta Limited license, Finangel is able to provide modern neo-banking service. 
Dmitrii Zaretskii, CEO and founder of Finangel states: "Our experience of working with Decta was exceptional. The biggest advantage was indeed timing - receiving first cards in less than two months was beyond expectations. The level of expertise in payment industry in general and card issuing in particular have saved us weeks, if not months of work. Another bonus was ability to adopt to our needs -  top up of cards using Decta acquiring, card applications processing in several seconds, push-notifications for cardholders, electronic PIN delivery, customized cards packaging, etc. Generally, tailored approach was seen in all stages of cooperation. Finally, product itself! Decta Smart has enabled company to focus on their expertise - product design, user experience and interaction, promotion and community building, letting Decta take care of the rest."
Dmitrijs Grebnevs, Vice-president, Issuing, in turn: "We have perceived request of Finangel as a challenge. Industry standards are laying way below of what we have shown. Minimization of launch time to shown limits was only possible due to professionalism of the teams, cooperation and focus on the result."

If you, alike Finangel, see your future in digital banking, or are interested in White-label cards, write to us: or learn more about Decta Smart visiting solution description section.