11:FS Foundry

w: 11:FS.com

t: @11FS

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Created: 11:FS / CEO: Dr Leda Glyptis

Founded: 2017

Funding: $3M (DNB)

Keywords: digital modular banking platform

Who is it for: banks and financial institutions

HQ: UK, London

Building “fit for the future” digital banking services

Created by challenger consultancy 11:FS, Foundry is a complete banking architecture that offers a modular, ledger-first set of components to deliver secure, digitally-native propositions quickly and to scale.

In October 2018, Norwegian bank DNB took 5% stake for $3M and increased its investment in June 2019.

11:FS Foundry aims to bring digital, personalised services and experiences to market far faster than traditional methods and at significantly less cost. It uses cloud-based technology and a modular approach, allowing customers to deploy an entire banking stack, or select services, depending on their strategy.

Foundry also claims to improve service development efficiency and deliver a lower total cost of ownership for digital services. It offers a higher level of IT security, based on a “zero-trust security” model, built to be encrypted and GDPR compliant.

Banks that have already invested in banking systems, or cannot easily build on their underlying infrastructure, can also use 11:FS Foundry to launch new digital offerings in a gradual and modular way.