Lydia Solutions defends European ambitions and aims at profitability

Lydia Solutions now has two autonomous brands: Lydia (dedicated to the creation of accounts and payments between individuals) and Sumeria (his offer of a neo-bank previously presented as Lydia Accounts). Today, its ambitions are intended to be expanded, marked by several steps in the medium and long term.

FACTS

• The neo-bank Sumeria was born last May, with Lydia Solutions' clear objective of separating its Lydia and Sumeria brands, offering them more autonomy in terms of defining their own roadmap.

• This separation of services also translates into an evolution of objectives for the group as a whole, and for its brands in particular.

• In the medium term, and as stated by Cyril Chiche, co-founder and CEO of Lydia Solutions, Sumeria should benefit from obtaining its credit institution approval by the end of the year. It would complement its previous approvals obtained from CPRA as a payment and electronic money service provider.

• Lydia services should also be extended to the euro area in line with a target set for September or October.

• Lydia Solutions finally plans to achieve profitability for its operations by the end of the year.

ISSUES

• Moving to a new scale In addition to its rights as an EME, Sumeria, with a credit institution licence, will also be able to receive deposits and grant credits.

• Impose yourself as a bank reference : After becoming a reference for payment between individuals with Lydia, Lydia Solutions is now aiming to build a major European banking group. For this purpose, the group plans to carry out its introduction on the stock exchange in the longer term.

PERSPECTIVE

• Cyril Chiche stated in a previous interview that the Sumeria service had 1.8 million customers who activated a card last February.

• A first step towards achieving its ambitions displayed and costed to become the first European digital bank by 2030 with 5 million customers by 2027 thanks to its European conquest.

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