Societe Generale is sending a dedicated team of staffers to collaborate with fintech startups in Germany through a partnership with Berlin-based innovation hub, Factory.
The move is part of a concerted effort by the French bank to create an international innovation network by building strong ties with fintech startups across the globe.
The new team will work for all German Societe Generale business entities, which are already collaborating with some 20 of the country's startups.
“The team at Factory will connect our different businesses with the creative actors of the ecosystem, and enable us to deliver innovative user-centered solutions faster," says Guido Zoeller, Societe Generale Group country head for Germany and Austria. "For us, Factory is the perfect place to get access to these young companies and digital talents and to profit by our transversal approach for the entire Societe Generale Group in Germany and abroad.”
The German outpost forms part of an international innovation ecosystem project that has seen the French bank build relationships with homegrown startups at la Plateau in France, alongside the creation of labs and accelerators in Africa, India and Amsterdam.
“This partnership is in line with Societe Generale’s open innovation strategy," says head of group innovation Aymeril Hoang. "Starting outside of our own premises is a way to allow more experimentations and disruptive projects, which will better serve our clients."