Launch of the first 100% digital payment account

| 8 December 2016 | Products | No Comments
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Launch of the first 100% digital payment account


Lyon, France – Sogexia to launch new online banking services with the first 100% digital payment account for consumers and businesses:

  • Online opening in less than 5 minutes
  • Open to everyone with no hidden fees
  • In partnership with BNP Paribas and Raphaels Bank for funds safeguarding
The solution comprises an online web and mobile account to load and withdraw money, process bank transfers and receive direct debits, up to 4 MasterCard cards with an optional travel insurance to make payments and withdraw money at ATMs alongside a wide range of additional services giving a better control over its money.

The account opening can be carried out online in less than 5 minutes. The account is then limited in use and can be extended by uploading a copy of an ID document and a proof of residency.

Unlike a traditional bank account, the Sogexia payment account does not offer overdraft nor cheques and works in real-time. Bank transfers are credited as soon as they are received without any additional value day, payments are visible immediately in the transaction history and transfers between two Sogexia accounts are instantaneous. Furthermore, notifications are sent via SMS and e-mail for each past and future transaction (e.g. an upcoming direct debit).

Kilian Füg, CEO said: « Sogexia was born out of our frustration of traditional banking services. We believe that they can be at the same time simple, cost saving and bring a real added value. We therefore decided over the 3 last years to reinvent banking by creating our own banking processing platform in order to meet today’s and tomorrow’s expectations. We intend to seduce 100 000 customers during the first year, consumers and businesses combined. »

A spend management module makes it easier to understand where one’s money goes by displaying in the blink of an eye the account balance, the incomes and outcomes, and smartly categorizes each transaction automatically.

Thanks to the Sogexia account, customers benefit from an access to the Sogexia Club: a website allowing them to get discounts exclusively negotiated by Sogexia with more than 850 partner merchants such as Amazon, Orange, SNCF, Booking.com or Hertz. The use of this service entails an average of 7% rebates over their online purchases.

For businesses, the account simplifies their accounting. They can take a picture of a claim, upload it to the account and link it to the corresponding transaction. These data can then be exported for an automated integration into any accounting system.

As of today, account applications are open to every European Union resident.

Richard Füg, Head of Sales said: « We plan on launching several new innovative services over the next few months then continuously, mainly related to mobile experience, existing tools enhancement and integration of new partners on our platform. All of this in an effort to reassure the competitiveness of the offer by continuing to deliver a real added value to our clients. »