As banks increase the purchases of young shoots of the finance (Account Nickel by BNP Paribas, the transfer Is made by The Postal Bank, Pumpkin by Crédit Mutuel Arkéa), two of the most promising startups of the Fintech French, who seek to shake up financial services to individuals, decided to join their forces. The management company is a specialist in savings, 100% digital Yomoni and the aggregator bank accounts Bankin’ announced this Monday to have formed a partnership.
Bankin’, who wants to become more than just a dashboard, but a “coach in personal financial and digital”, will integrate, within its application, the savings service of Yomoni, which will propose an investment strategy to the user based on their situation and their projects. It is intended eventually to allow users to withdraw or pay money out on an investment, since the application Bankin’.
This alliance should benefit both players, complementing the offer of the one and expanding the other public.
“With this partnership, we go further in supporting our users by facilitating the realization of their projects. A trip, a real estate purchase or a reserve of savings for the future… according to their needs, our coach advises them to save better. To do this, we need a partner in the savings online that has good products and who share our vision. We found it in Yomoni “, argues Joan Burkovic, co-founder and ceo of Bankin’.
The aggregator, which has raised $ 8.4 million euros since its creation, with NewTech, Omnes Capital and CommerzVentures, claims 1.7 million users. For its part, Yomoni, who has made a second round of 5 million euros in February (with Crédit Mutuel Arkéa and Jena Venture), needs to be known beyond a small circle of early-adopters connected in order to achieve its ambitious goal of one billion euros of assets under management by 2020, up from 25 million currently to just over 3,000 customers.
“The ambition of Yomoni is to help individuals to be more sparing in function of their projects ; thanks to our collaboration with Bankin’, we are now able to provide a more comprehensive to a wider public “, explains Sébastien d’ornano, the executive chairman of Yomoni. “This partnership is one of the first in the area and it is a major step in the development of synergies between the financial services from the Fintech, for the benefit of the investors “, he adds.
The era of “open banking”
One of the competitors of Bankin’, Linxo, which has just announced a waiver of 20 million euros from Crédit Agricole, Crédit Mutuel Arkéa and Maif, has partnered with another Fintech, the platform Grisbee that wants to democratize wealth management and offers life insurance online. As Linxo that Grisbee position on the niche definitely getting more crowded by the “coach” financial digital.
Linxo is also working with banks, that use his rss reader under a white label. All the actors are taking up arms before the entry into force next January of the second Directive on payment services (CSP2), which will enter the sector in the era of “open banking” in forcing banks to open up access to the data of their clients to other actors, including Fintech.