Leveris

About Leveris

Leveris is a financial technology company that developed a cloud-native, software-defined, core banking platform. Founded in 2016 by serial entrepreneur Conor Fennelly, the company aimed to address the limitations of legacy banking systems, such as high costs, inflexibility, and an inability to use real-time data. Fennelly, who served as CEO, has a background in enterprise software development for the financial services industry, having founded his first "Banking as a Service" business in 1998.

The company was headquartered in Dublin, Ireland, with R&D and development centers in Prague, Brno, and Minsk. Leveris's platform was designed as a full-service, end-to-end digital retail bank and a full-spectrum lending solution. It enabled banks and other financial entities to offer a wide array of retail banking products, including current and deposit accounts, personal loans, and mortgages. The platform's key features included digital onboarding (KYC/AML), real-time transaction monitoring, account management, and API integration. The system was built to be modular and event-driven, allowing financial institutions to rapidly configure and launch new products without writing new code, significantly reducing operational costs and time-to-market.

Leveris targeted traditional banks seeking digital transformation, new challenger banks, and large consumer brands looking to enter the financial services market. Its business model operated on a software-as-a-service (SaaS) and banking-as-a-service (BaaS) basis. One of its notable achievements was deploying a system for Link Group in just 12 weeks, which allowed the Australian firm to enter the Dutch mortgage market. In 2018, Leveris secured a €25 million investment from Link Group, which valued the company at over €190 million. However, despite announcing plans in mid-2020 to raise an additional €100 million to fund US expansion, the company faced difficulties. In July 2021, Leveris summoned creditors for meetings to wind up the business.