Treezor ticks all the boxes in terms of accreditation

FinTech Treezor, the French reference in Banking-as-a-Service (BaaS), has just announced that it has reached a new stage in the consolidation of its offer and its pioneering status. It has become the first French electronic money institution to be approved for all payment services.

FACTS

• Treezor has just obtained the authorisation from the Autorité de Contrôle Prudentiel et de Résolution (ACPR) to extend its licence to all payment services.

• The FinTech now has all the payment service licences (from 1 to 8). These licences allow it to extend its range of services by offering

  • the cash deposit service with a network,

  • the execution of payment transactions made with a payment card or similar device associated with a credit opening

  • the execution of transfers associated with a credit line,

  • the transfer of funds,

  • the payment initiation service,

  • account information service,

• Treezor's customers will be able to integrate, in their own offers, services of: deferred and fractional payment, aggregation of external accounts, initiation of transfers (standard and instantaneous) and cash deposit.

CHALLENGES

• Signing a first: Treezor has officially become the first payment and electronic money institution to have all the approvals.

• To offer new growth levers: Obtaining new approvals is obviously a way for the FinTech to offer itself more and more legitimacy, to integrate new offers and therefore finally, to win new markets.

• Supporting the BaaS movement: The strong development of Banking as a Service, characterised by the entry into the French market of players such as Solaris or Starling, requires these service providers to be able to provide banking services, but also the regulatory authorisations to offer these services.

MARKET PERSPECTIVE

• Treezor was one of the first French FinTechs to receive the Electronic Money Institution (EMI) approval in June 2016.

• Since then, Treezor has established itself as a French reference in the buoyant BaaS market. The FinTech was in good health last October, on the occasion of its fifth year of activity.

• Today, the announcement of its new approvals allows it to confirm its growth. It currently has more than 100 clients and now covers €25 billion in transactions. It has also seen a 50% growth in its teams each year, thanks in particular to the opening of new offices in Europe (Germany, Benelux, Italy and Spain).