Visa and banking technology company Pismo partnered with ABN AMRO, the third-largest Dutch bank, to launch BUUT, a new challenger card and neobank proposition targeted at Gen Z consumers. The BUUT debit card was developed and launched in just 10 weeks, leveraging Pismo’s cloud-native platform.
The rapid launch demonstrates how established financial institutions can innovate at a pace typically associated with fintech startups when they collaborate with modern technology partners. While BUUT, as part of ABN AMRO, provided the deep customer insight and regulatory expertise, Pismo’s platform enabled the quick development of a debit card experience designed for a digital-first generation.
A collaborative model for modern banking
The partnership reflects a growing trend among traditional banks to adopt API-based, cloud-native infrastructure to better cater to the expectations of younger, digital-first consumers.
“Our work with BUUT is a powerful example of what’s possible when banks and technology partners come together with a shared vision,” said Mandy Lamb, head of value-added services for Visa Europe. “In just 10 weeks, ABN AMRO has launched a proposition that could rival the best of fintech. This is the future of banking – collaborative, agile, and built around the customer.”
Lamb added: “This project shows that banks don’t need to choose between security and speed. With the right partners, they can have both. And in a world where customer expectations are shaped by the best digital experiences – not just in banking, but across every industry – that’s not just a competitive advantage. It’s a necessity.”
A new proposition for a new generation
BUUT is a new bank from the creators of the popular Dutch payment app Tikkie and is also part of ABN AMRO. The app is designed specifically for teenagers, with features like savings pots and easy payment functionalities. The user experience is simple, visual, and interactive, aiming to build financial confidence in a younger demographic.
Hein Ter Braak, head of BUUT, said: “With BUUT, we aim to build the most financially confident and healthy generation ever. That’s why we didn’t waste any time and launched as quickly as possible. The timelines and collaboration with Visa and Pismo aligned perfectly with ours, making a swift release possible!”
As part of ABN AMRO, BUUT is covered by the Dutch Deposit Guarantee Scheme, combining the reliability of a large bank with the innovative approach of a fintech.
The project also highlights Visa’s expanding role beyond traditional payment credentials. The company is increasingly focusing on its value-added services to help its financial institution clients innovate faster through digital payments and open banking solutions.
Source: https://thefintechtimes.com/
