Business Chief Europe Magazine June 2020 | Page 264

DEEM FINANCE

264 particularly crucial to Deem ’ s development . Specifically , the migration from private to public cloud , through to the global ecosystems that are emerging across sectors . “ We tried to harness all of these innovations from day one ,” he notes . “ So , building Deem to be cloud-native immediately , for example , making sure that it ’ s all open API instantly , and so on . We invested a lot in what we call ‘ the digital fabric ’ rather than the core systems themselves . They ’ re the ones that , in my view , have really moved the foundations of retail banking in the right direction and which are giving us a tremendous ability to understand our customers in ways that would have never been possible before .”

At its heart , Deem ’ s proposition revolves around its Cash Up and Miles Up cards and personal loans , both of which have proved successful since their launch in November last year . The company offers its cards at three distinct income levels — World ,

JUNE 2020