Societe Generale announces the acquisition of Treezor and accelerates its open innovation strategy

Societe Generale announces the acquisition of Treezor and accelerates its open innovation strategy

Societe Generale announces the acquisition of Treezor and accelerates its open innovation strategy

The FINANCIAL -- Founded in 2015, Treezor provides real-time core-banking system, payment, KYC and personalised card program. Treezor has developed an innovative payment platform in collaboration with its clients (retailers, neo-banks, client to client and crowdfunding platforms) via APIs.

Treezor is an electronic money issuer with payment services accredited by the French regulator (ACPR), a principal member of the Mastercard network and part of the SEPA network. The company offers services to 30 licensed and unlicensed Fintechs. Over the past two years, Treezor grew to manage up to €3 billion in transaction flow annually and issued 300,000 payment cards.

This acquisition is subject to approval by the ACPR. It will enable the Group to provide innovative services for its clients and support the development of Fintechs and neo-banks.

Societe Generale will provide Treezor and its 30 employees with expertise and an industrial capacity to complement the range of services offered by Treezor (BtoBtoC), by providing payment, currency and credit services. Societe Generale will support Treezor’s international development.

Societe Generale will be able to reduce Time to Market when developing new services for its clients, supported by the innovative and agile system of Treezor.

Societe Generale was the first French bank to purchase a Fintech when it acquired Fiducéo in 2015, and more recently, Lumo. The Bank is pursuing its open innovation strategy based on close partnerships with Fintech ecosystems across the globe.