Memo Bank Сhooses Enfuce as its Сard Issuing Provider
Memo Bank, the first independent bank to emerge in France in the last 50 years, has chosen Enfuce as its card issuing provider. With the partnership, Memo Bank is looking to expand its business banking services for small and medium-sized businesses (SMEs) across Europe.
Memo Bank offers all the tools SMEs need to manage their cash flows, including current accounts, loans, and payment facilities. It is fully licensed by the European (ECB) and French (ACPR) banking authorities. Memo Bank is now launching virtual and physical cards enabling SMEs to follow expenses directly from their bank account in real time.
Collaboration was one of the biggest factors why the bank chose Enfuce as its card issuing partner.
“We have established a great relationship with the Enfuce team, and we truly appreciate working together. We are very excited about our journey together. Enfuce has proven its ability to accelerate our growth through its great reference cases in Scandinavia.” - Jean-Daniel Guyot, Co-founder and President of the Management Board at Memo Bank.
Memo Bank has placed technology at the heart of the partnership – not to replace bankers with robots but to give bankers the best tools available for serving their clients. Technology was also one of the biggest factors behind Memo Bank’s decision to work with Enfuce.
“Like Memo Bank, Enfuce has the same DNA in terms of technological architecture, but it also has a strong infrastructure and high security standards for storing their customer data in Europe”, Jean-Daniel Guyot continues.
Enfuce also believes in the potential of Memo Bank’s offering for its target segment.
“We are thrilled to serve our first French customer, and even more excited about the fact that they are the first truly independent bank to emerge in France in the last 50 years.” - Denise Johansson, Co-CEO and Co-Founder at Enfuce.
This partnership enables Memo Bank to launch Visa* Corporate deferred debit cards in 2022.
“With the team behind Memo Bank, we have no doubt that their services will reach a highly underserved segment of small and medium-sized businesses across Europe, and we will support them throughout their scaling”, Johansson continues.
*Visa is a registered trademark of Visa International Service Association.
Source: Enfuce’s press room
Enfuce’s business runs on Way4 cloud-based payment processing software
Enfuce, a Finnish payment service provider founded in 2016, offers payment, open banking, and sustainability services to banks, fintechs, financial operators, and merchants around the world. One of the reasons behind their rapid growth from a startup to a global provider of cloud-based payment services is successful partnerships with companies like Amazon Web Services (AWS) and OpenWay, a global vendor of digital payment solutions.
By running OpenWay’s Way4 payments software platform in the cloud, they provide their clients with a broad range of integrated card schemes and practically every card product available on the market, whether they are pre-paid, debit, credit, or instalments. In 2019 Enfuce and OpenWay jointly won a PayTech Award as the “Best Payments Solution for Payment Systems in the Cloud” and in 2021 Enfuce became a pioneer in shaping a Card-as-a-Sevice offering for its clients.