January 20, 2021

MoneyGate signs core banking deal with Finartix

Cypriot electric money institutions (EMI) MoneyGate has selected Finartix’s Capital Banker as its new core banking system.

MoneyGate is applying for EMI status with the Central Bank of Cyprus

The firm is in the process of an EMI application with the Central Bank of Cyprus. It aims to act as a challenger bank for corporate and retail banking customers.

Capital Banker is deploying on the cloud. Finartix says the implementation will complete by the end of Q1 2021.

Nicolas Treppides, MoneyGate founder, says selecting the right partner is “key to success in the fintech world.”

He adds: “At MoneyGate, we are confident that Capital Banker is the right fit to the high expectations of the company and its future customers.”

Greece-based Finartix offers technology solutions for core banking, payments, card management, digital banking, and lending.

Andreas Diamanteas, the vendor’s executive chairman, says there is “a lot of potential” in the EMI market.

He adds there is a gap in the market, in which “flexible and mature core banking solutions” can support fledgling EMI firms.

Related: Greek challenger Woli to launch “neobank for families” next year