Abstract: The present disclosure relates to server arrangement for operating, controlling and managing financial operations. The server arrangement implements a shared ledger for recording and storing financial data (e.g., financial transactions) of accounts that are supported by distinct licensed core banking engines. This may allow the server arrangement to implement the licensed core banking engines to perform financial transactions without the use of a payment processor. The server arrangement implements a virtual marketplace where banking services are rendered available to users. Each banking service may be sold by one of the licensed banks to a banking client entity and the banking client entity may select and bundle the banking services of the licensed banks and offer the bundle for sale to the clients in the virtual marketplace. This may facilitate operation for the banking client entities and management of financial assets for the user.

Abstract: The present disclosure relates to server arrangement for operating, controlling and managing financial operations. The server arrangement implements a shared ledger for recording and storing financial data (e.g., financial transactions) of accounts that are supported by distinct licensed core banking engines. This may allow the server arrangement to implement the licensed core banking engines to perform financial transactions without the use of a payment processor. The server arrangement implements a virtual marketplace where banking services are rendered available to users. Each banking service may be sold by one of the licensed banks to a banking client entity and the banking client entity may select and bundle the banking services of the licensed banks and offer the bundle for sale to the clients in the virtual marketplace. This may facilitate operation for the banking client entities and management of financial assets for the user.

Abstract: A method for an institution to open an account for a user is provided. The method notably comprises receiving a request from the user to open the account with the institution. The user is asked, via a digital channel, for a payment from a digital wallet of the user. The identification of the user is performed at least in part by receiving information about the user from the digital wallet of the user and using an identification method that is associated with the digital wallet. The authentication of the user is performed by comparing at least two sets of information, one received from the digital wallet and one inputted by the user. The account with the institution is then opened and a payment request is made from the digital wallet to an issuing bank of the user.