Core Banking Developer Leveris Receives Strategic Investment from Link Asset Services

On August 20, 2018, Leveris, an Irish developer of core banking technology, announced a strategic investment from Link Asset Services, a major provider of outsourced administration and technology services to the financial sector. The investment was aimed at accelerating Leveris's development of its modular digital banking platform, which covers key banking functions including lending, deposits, card issuance, and credit solutions. Link Asset Services brought complementary outsourcing capabilities, creating potential for a combined offering of technology and managed services for banks seeking digital transformation.

Leveris's platform was designed to be deployed by banks and financial institutions looking to modernize their core systems or launch new digital banking propositions, positioning it in the banking infrastructure-as-a-service space. Financial terms of the strategic investment were not publicly disclosed. The deal reflected growing demand for cloud-native, modular core banking platforms that could enable incumbent banks to compete with digital challengers.

The partnership was expected to enhance both parties' ability to serve financial institutions across Europe.