has acquired France-based core banking, ID verification and card supplier , subject to approval by the French regulator ACPR. Through this acquisition the group plans to provide services for its clients and support the development of fintechs and neo-banks. It also hopes to speed up product roll-out for the bank’s clients. Treezor, which has 30 employees, says the bank will provide payment, currency, and credit services, as well as support Treezor’s international development. Founded in 2015, Treezor has developed a payment platform in collaboration with its clients (retailers, neo-banks, client to client and crowdfunding platforms) via APIs. Treezor is an electronic money issuer with payment services accredited by the ACPR, a principal member of the Mastercard network and part of the SEPA network. The company offers services to 30 licensed and unlicensed fintechs. Over the past two years, Treezor grew to manage up to EUR 3 billion in transaction flow annually and issued 300,000 payment cards.
French banking company SEPA has acquired fintech start-up Treezor, and aims to use the acquisition to support the development of other fintechs and neo-banks. Treezor already works with 30 licensed and unlicensed fintechs, and as an electronic money issuer will be used to speed up the release of products to customers. The fintech collaborated with clients to create a payment platform using application programming interfaces and processes up to EUR3bn ($3.48bn) annually.