La Banque Postale has entered into a partnership with the fintech Ebury to offer its SME customers an open banking solution to support their international activities.
This initiative illustrates La Banque Postale's ambition to be a major banking partner for French companies by adopting an innovative model resulting from collaboration with tech players.
In order to support its SME customers in their international activities, La Banque Postale is enhancing its offer by joining forces with Ebury. This partnership will enable the bank's customers who have access to Ebury's services to open a foreign currency account, carry out spot foreign exchange transactions in 140 currencies and make international transfers from a secure, dedicated platform, 24 hours a day, 7 days a week.
A partnership to accelerate in a growing specialised market
This solution is designed for companies that carry out, or have the potential to carry out, international trade operations involving the import and export of goods or services.
In France, more than a third of French SMEs generate on average almost 20% of their turnover from exports.
This value-creating partnership will provide an immediate, integrated and secure international offering for the customer segment that needs it most.
Ebury, a specialist in cross-border payment solutions, is recognised for its expertise and supports 50,000 customers (mainly small SMEs, with 70% of its client base having a turnover of between €1 and €20 million) in 19 countries, transacting €23 billion via its platform annually.
A development strategy for the corporate market
This partnership is part of La Banque Postale's 2030 strategic plan, whose ambition is to accelerate the development of its diversification businesses, where it has developed recognized positions of expertise and leadership, particularly in the corporate market, where it aims to achieve a 5% market share by 2025 by doubling the number of customers.
This initiative also positions the bank as a reliable and robust partner in the digitalisation of customer processes, including the management of international flows and foreign exchange, in line with its objective of adopting an innovative model of open platforms built in collaboration with Tech players.
"This partnership with Ebury, a fintech specialised in simplified international transactions for businesses, allows us to support our SME customers in their international activities with an integrated, secure and efficient open banking solution. This project illustrates our ambition to become a reference banking partner for businesses by 2025 through innovative digitized paths," said Serge Bayard, Deputy Chief Executive Officer of the corporate and investment bank serving businesses, local authorities and institutions, and Director of Businesses and Territorial Development at La Banque Postale.
"Ebury is delighted with this new partnership with a bank that has embraced innovation. We are proud that a French bank is partnering with a fintech to provide this service to businesses, streamlining their international transactions and enabling them to consolidate their internationalisation" said Cyril Léger, Managing Director of Ebury France.