Lanistar chooses W2 to power its new banking alternative

W2, the leading provider of real-time digital solutions for global regulatory compliance, announced today that it has joined forces with Lanistar, to help power its new hassle-free banking alternative. The company will use polymorphic technology to provide a customer-focused alternative to traditional banking services when it launches in Winter 2020.

Lanistar is accessing the entire suite of identity services via the W2 award winning platform, from front end checks and global eKYC, through to document and facial technology. The ability to utilise real time onboarding with ongoing monitoring provides security and peace of mind for Lanistar, knowing that all their regulatory compliance requirements are met.

Founded in 2019 and based in Hammersmith, London, Lanistar is already valued at £150 million pre-launch and aims to become a £1 billion fintech company. Having already secured £17 million in seed money, Lanistar is creating a new debit card to help customers streamline their money via new technology and open banking. The company will provide multi-currency accounts, premium services and additional features to revolutionise how their clients' money is managed.

CEO & Founder, Gurhan Kiziloz, having experienced first-hand frustration with the traditional banking platforms, stated "the established banking facilities have failed to provide the kind of experiences customers are demanding, so I thought long and hard about how I could remove the endless friction from banking to allow consumers to easily access a multitude of services."

Kiziloz added, "We chose to work with W2 as we wanted to avoid having data across disparate sources and W2's offering provided a seamless, efficient and compliant solution that mirrored Lanistar's values. W2's offering enables us to provide a frictionless way to onboard and engage with our customers, which is exactly what we are about."

Warren Russell, EVP of Identity Solutions W2 said, "We are excited by the opportunity to work with Lanistar to provide a range of identity solutions for their KYC/AML and regulatory requirements delivered via a single API."

"By automating complicated processes, financial disruptors such as Lanistar can react more quickly to the needs of their customers giving them a significant competitive advantage. The W2 technology can adapt to the ever-changing needs of consumers and in Lanistar, we are delighted to be working with a partner that wants to change the status quo."

"Making strategic decisions by the choice of technology platforms ensures that such innovative businesses are well placed to benefit from the massive growth in the market."

Russell went on to say, "Due to our shared, flexible, creative and values driven approach, Lanistar is an ideal W2 partner who we can seamlessly collaborate with to enjoy mutual benefits, including continued growth and success."