Knab’s expansion of Back-Office Processing partnership reduces complexity and promotes growth | Blog

03 / 11 / 2022

In a rapidly evolving market that can be complicated to traverse effectively, having a stable, well-positioned partner is key to reducing complexity and empowering development. In a recent press release, the extension of the partnership between Knab and Worldline was announced, cementing the relationship as positive and forward-thinking.

roads blurred in the background

Reducing complexity and supporting innovationStaying relevant in the financial market with such a broad range of changes, such as the benefits of open banking, open finance and digital currencies, is a significant challenge. It's also becoming increasingly crucial for collaboration through meaningful partnerships to be at the forefront of business decisions.

Increasingly, financial institutions have to balance customer value and demands with new and emerging processes and technologies and the added regulation and complexity that comes with them. As a result, making critical business decisions and taking the time for a thorough market assessment can be difficult. As Ronald suggests, standardisation through outsourcing to a single trusted partner can help cut this complexity.

"Outsourcing to a single vendor removes several overheads and simplifies work for a number of our operational departments. It means we can be more efficient – if there are issues or major changes that need to be made, for instance, rulebook changes, then we only need to align with a single partner and not multiple for different services."

Recognising market needsWorldline has supported Knab in some of its most pressing market needs by providing the instant payments service. The needs and wishes of customers are changing in the digital world; therefore, Knab must remain at the forefront of innovation and product offerings. "This is why we engage in meaningful partnerships," says Ronald. "We need to ensure that we can adapt to changing needs and the evolving market. By partnering, some of the burdens that come with being a SEPA bank have been removed, enabling us to focus on developing differentiators and adding value for our customers."

By furthering the partnership, Knab is placing itself in an excellent spot to meet customer demand both now and in the future. Offering specialised banking services or developing products that provide added value requires resources - something that outsourcing services can free up and streamline.

Why Worldline?When selecting a partner to outsource critical services to, it's essential to choose the right partnership for many reasons. "For Knab, Worldline is the perfect partner as we develop our offerings," says Ronald. "They are a trusted partner that knows banking in the Netherlands like no other – this market knowledge and a broad range of experience makes it easy for us to work closely in collaboration with them to identify the areas in which we can best benefit from their future-proof solutions."

With Worldline, things are less complex. Offering multiple services and inter-connected solutions makes them flexible and a reliable banking partner. Beyond practical aspects, cultural fit and shared vision is also key to the success of many partnerships and collaborations in the financial world and beyond.

“Key to our decision has been the close cultural fit between Worldline and Knab," says Ronald. "This is important as it makes everything smoother, from communication and implementation to support, general discussion and incident handling. Worldline knows what they can offer and ensure we know what we can count on them for, without approaching it from a sales perspective. This has been truly valued throughout the entire relationship."

Paul Jennekens

Paul Jennekens

Head of Marketing, Worldline Financial Services
Paul has been working for this company since 2006. He has gained extensive experience in the payments field in various roles including Head of Product Management. In his current role as Head of Marketing at Worldline Financial Services, he is responsible for developing and implementing the marketing strategy and tactics with the main objective of becoming the leading payment processor towards financial institutions in Europe and beyond.