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  • Players’ Strategy
  • France

Memo Bank improves business settlements

To bring small businesses into the "real time" era, Jean-Daniel Guyot, co-founder and chairman of Memo bank, has vowed to improve the banking processes for this target customer group, which is underserved by traditional banks. To this end, he has acquired the status of "direct participant" in the STEP2 settlement mechanism, which will enable Memo Bank to gain autonomy and speed up settlements for these customers.


  • STEP2 was developed by EBA Clearing. This settlement system is the main clearing house for SEPA credit transfers and direct debits in euro, enabling the automation of bulk payments in euro between banks. It allows certain financial institutions, in particular banks and credit institutions, to connect to its organisation to obtain direct participant status.

  • Memo Bank is now part of this very exclusive club as one of the 54 direct participants in the pan-European automated clearing house STEP2.

  • The bank plans to speed up the pace of payments for its customers, processing transactions on a day-to-day basis, a service that is particularly useful at the end of the month for payroll management.

  • Memo Bank also plans to offer a new direct debit payment service in payment initiation mode in the near future.


  • A tool to improve the customer experience: The bank plans to speed up the pace of payments for its customers by extending the cut-off times. Thus, unlike most traditional banks that process transfers after 11am only the next morning, Memo Bank will process these transactions the same day.

  • The consecration of an independent model: Memo Bank is the first independent bank to have been created in France in 50 years. It is now positioned alongside 53 major European banks that are already members of STEP 2.

  • Reaching a new dimension: Memo Bank's new accreditation allows it to carry out instant transfers for certain larger amounts and thus opens up the salary payment market. Memo Bank is also taking advantage of its new status to become one of the very first European banks to integrate the new Continuous Gross Settlement (CGS) system offered by EBA Clearing.


  • Memo Bank is a new entrant to the market, but it continues to pursue its strategy of becoming a full-service institution with the same functional capabilities as a traditional institution.

  • Memo Bank was able to connect to the STEP2 clearing house only one year after its market launch thanks to two assets:

    • a full credit institution licence

    • its state-of-the-art banking infrastructure, developed in-house and from scratch. Another first on a European scale.