Financial expertise
turned into software.
Five Degrees is a leading provider of software for Icelandic financial institutions. Our flagship products, Matrix Loan and Matrix Securities, are in use across most companies and institutions in the Icelandic financial market.
A leading software company in the financial market
At Five Degrees, our team of experienced specialists develops software for Iceland's financial sector.
We are a close-knit team committed to delivering reliable software and long-term partnerships. Our systems have been in continuous development since 1996 in close collaboration with the Icelandic financial market. Our products are in use across most companies and institutions in the Icelandic financial market. Get in touch to learn more.
Comprehensive financial software
Our first project was a securities management system for Búnaðarbankinn Verðbréf in 1996.
That system evolved into Matrix Securities — the back-office, custody and asset-management platform that nearly every participant in the Icelandic securities market relies on in their daily work.
In 2002 we began designing the loan-management system Matrix Loan, which quickly gained traction in the market and has become firmly established with many of our clients.
And that leaves uncounted the many projects over the years that have resulted in additional modules for our core platforms or bespoke work for our clients — in areas such as calculations, process improvements and batch processing.
Software built for Iceland's financial sector
Matrix Securities and Matrix Loan are built specifically for the Icelandic financial market. Built-in processes, Iceland-specific solutions and a breadth of modules — continuously refined through decades of real-world use — cover the market's needs.
matrix securities
The securities lifecycle from trade to settlement, fund administration and portfolio management.
Matrix Securities comprises several modules supporting trade settlement, payments, asset transfers, integration with financial systems, asset administration, valuation, corporate actions, reporting and support for investment decisions.
The system's key strengths are built-in processes, continuously refined in Iceland. Nearly all of the country's major financial institutions use Matrix Securities.
matrix loan
A flexible, multi-currency loan management system with powerful reporting.
Matrix Loan manages borrowing and lending as well as third-party administration of bonds. The system is built for the Icelandic market, handles Iceland-specific needs and remedies, and supports a wide range of loan types.
The system's key strengths are flexibility, processes for registering and servicing loans, along with collection workflows and reporting. Matrix Loan is widely used in the domestic loan market, with over 200,000 loans handled in our clients' systems.
From the beginning to today
- 1996
We started as part of TölvuMyndir.
- 2001
The company was renamed Libra and became an independent subsidiary of TölvuMyndir, later TM-Software.
- 2006
TM-Software sold Libra to the Nordic exchange OMX. We became OMX Technology in Iceland, then OMX Banks and Brokers, and finally OMX Broker Services.
- 2008
The Nasdaq Stock Exchange in New York merged with OMX, and we became Nasdaq OMX Broker Services in Iceland.
- 2009
Nasdaq OMX sold us to domestic investors, and we returned to the Libra name.
- 2018
Libra was acquired by Five Degrees, an Icelandic-Dutch fintech specialising in software for banks and financial institutions. The two companies subsequently merged.
- 2023
The Dutch firm Topicus acquired Five Degrees. Topicus is the parent of Total Specific Solutions (TSS). After the acquisition Five Degrees was split: international operations moved under Topicus, while the Icelandic-client operations moved under TSS.
- 2025
Ingvar Vilhjálmsson appointed as new Chief Executive Officer.
- 2026
Five Degrees achieves ISO/IEC 27001:2022 certification for its information security management system.
