Memo Bank, the first independent bank created in France in fifty years, has announced the signing of a partnership with Powens, the French leader in the aggregation of banking and financial data and documents, and a pioneer in the Open Finance sector in Europe. Memo Bank customers will now be able to connect their bank accounts to a wide range of financial and non-financial services in a simple and secure manner.
A new step forward in Open Banking
After integrating with EBICS and jedeclare.com, Memo Bank is now consolidating its strategy of opening up to the fintech ecosystem.
Jean-Daniel Guyot, co-founder, and chairman of the Memo Bank executive board said: “This new integration testifies to our support for opening up banking data encouraged by the Payment Services Directive (PSD2). We want to build an open and secure banking model to make day-to-day life easier for businesses. ”
This partnership is based on the new types of exchanges made possible by Open Banking, i.e. the possibility for individuals and professionals to use their banking data outside their own bank’s website, for example, in third-party services from financial or non-financial players.
Partners committed to simplified and secure access to banking data
With the Powens connector, Memo Bank customers will be able to use banking information through 100 online management and accounting tools such as Pennylane, Agicap, Sellsy, or IPaidThat.
This key benefit avoids manual data reconciliation, provides a centralized view of the various bank accounts, and enables the best cash decisions. These new services will translate into very concrete productivity gains for these companies. Customers will be able to securely connect their tools to their Memo Bank accounts in a few clicks without tedious red tape formalities. The connection developed by Memo Bank teams guarantees stability and security in the exchanges between the bank and its customers’ tools.
Unique know-how at the service of businesses across Europe
This partnership marks Powens’s commitment to speeding up corporate financial management by aggregating B2B bank account data, a unique capability among European TPPs. The fintech aims to make this service available across Europe in order to offer businesses access to more professional accounts and drive their growth. In addition to account aggregation, it also offers payment initiation, a service regulated by the PSD2.
“We are pleased to have a new partner like Memo Bank. We share the same objective: to innovate in companies’ service by offering the best Open Banking technologies on the market. ”
Bertrand Jeannet, Powens CEO