W2, a provider of real-time digital solutions for global regulatory compliance, has entered a new partnership with Lanistar which will see W2 power its new banking alternative.

With Lanistar’s new ‘customer-focused alternative’ due to launch in Winter 2020, W2 will use polymorphic technology to power the ‘hassle-free’ banking alternative.

Warren Russell, Founder & CEO of W2 stated: “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,” he added.

“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.”

Under the partnership, Lanistar will gain access to an entire suite of identity services via the W2 platform. This will include front end checks and global eKYC, through to document and facial technology.

Having already secured £17 million in seed money since it was founded in 2019, Lanistar is creating a new debit card to help customers streamline their money via new technology and open banking.

Lanistar CEO & Founder, Gurhan Kiziloz, commented: “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.”

“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.”