Nordic cloud-native core banking platform vendor Vilja has announced its decision to add deposit solutions for Austria and Ireland to its Vilja Platform. Following this announcement, Vilja is expanding its platform in order to include deposit solutions for customers and clients in Austria and Ireland.

The company will also support Hoist Finance AB (publ) with deposit services across Austria, Ireland, the UK, the Netherlands, Poland, and Germany. In addition, the financial institution is set to continue to focus on meeting the needs, preferences, and demands of users and partners in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. More information on the announcement Vilja represents a cloud-native core banking platform vendor in the Nordics.

Its pre-packaged deposit and optimised solutions have a modular design, which allows customers and individuals to choose whether they need an end-to-end solution or specific products. Hoist Finance is an asset manager specialised in non-performing loans. The company partners with international banks and financial institutions across Europe to acquire non-performing credit portfolios, as well as with customers and SMEs in a debt situation in order to create long-term sustainable instalment plans enabling them to convert non-performing debt to performing debt.

By providing optimised technical solutions, Vilja will assist Hoist Finance in the process of executing its funding strategy, while its Vilja Deposit will aggregate the latter’s internal administration, ensure accurate reconciliation, and comply with all necessary reports for the relevant supervisory authorities in order to maintain compliance. The launch is set to enable Vilja to accelerate its strategy of becoming an optimised asset manager of NPLs in Europe. This will offer savings accounts at attractive terms and conditions to retail customers in Ireland and Austria as well.

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