The perfect expression of the open banking philosophy
illimity Bank is the direct bank of the illimity Group, totally digital and without branches, based entirely on cloud technology.
illimity Bank represents an absolutely new way of doing retail banking, the perfect declination of the “open” philosophy proposed by Fabrick.
illimity has chosen from the outset to present itself on the market with products and services developed independently, but at the same time opening up to Fintech as an integral part of its offer.
The bank’s need was to find a person capable of creating a complete banking information system that would allow the bank to be born “open by design”.
illimity, to those who have activated the illimity connect account aggregation service, provides the Payment Initiation Service (PIS) to make payments from accounts of other banks aggregated in its platform.
Why did illimity choose Fabrick?
A set of APIs able to connect the traditional banking application with fintech solutions.
The modularity of the proposal: being able to choose on which fronts to maintain proprietary control and on which to rely on Fabrick
To have managed, in just one year, to structure a complete banking information system and to migrate customers from Banca Interprovinciale (from which illimity was born through a merger with SPAC).
The Fabrick Solutions Involved
The Personal Finance Management (PFM)
Fabrick’s PFM stands out for the breadth of functionality it allows to enable, a wealth of offer that illimity wanted to marry and make available to its customers.
The Account Aggregation
Fabrick faced the challenge of providing illimity – first among retail banks – with an Account aggregation system.