Yeeld chooses Treezor & Franfinance to launch a consumer credit offer for its retail customers
Paris, 28 March 2022 – To enhance its retail product line, Yeeld, the fintech that provides a money-saving app, has chosen the joint bid from Franfinance, and Treezor, the leader in Banking-as-a-Service, for outsourcing the tech and regulation aspects of the entire payment chain.
A co-developed offer by Treezor and Franfinance
As of January 2022, thanks to this collaboration with Franfinance, Treezor is offering all its clients (fintechs, online marketplaces, payment solutions for businesses, etc.) the option to embed a turnkey revolving credit and/or amortized loan service into their customer journey, thus positioning itself on the dynamic consumer credit market.
Yeeld, a Treezor client, wanted to benefit from this integration to expand its product range by offering its customers a new financing offer.
Thanks to the Revolving Credit API developed by Franfinance for Treezor, the customer journey on the Yeeld app includes the credit specialist’s loan granting, decision-making and management features. In just a few minutes, Yeeld’s customers can now take out a revolving line of credit of up to €3,000.
“The Revolving Credit API from Franfinance and Treezor enabled us to quickly offer our customers a revolving credit solution to speed up the financing of their personal projects. Thanks to the solution’s flexibility, we were able to build our own customer journey on our app and thus extend the Yeeld customer experience into the financing side,” says Nagib Beydoun, Yeeld CEO.
“2021 was an intense year strategically speaking, and we saw strong growth in our business activities. We have kept pace with innovation to offer our customers new solutions. We are proud to join forces with Franfinance to optimize Yeeld’s user experience with the Revolving Credit API, and offer consumer credit services while guaranteeing a high level of security. The teams have done remarkable work that demonstrates the value of the synergies possible within the Societe Generale group,” says Éric Lassus, CEO and co-founder of Treezor.
Frédéric Jacob-Peron, CEO of Franfinance, concludes, “Signing this new partnership is the result of successful collaboration between two innovative Societe Generale group subsidiaries: Franfinance and Treezor. Once again, this illustrates Franfinance’s ability to provide its expertise and simple, easy-to-implement solutions for fintechs that want to enter the consumer credit market, without having reached the critical size necessary for carrying out this activity directly. For Franfinance, this is also an opportunity to reach a younger and urban customer target, drawn to the simplicity of the Yeeld app.”
Franfinance is a wholly-owned Societe Generale subsidiary, specialized in sales finance and whose business model is based on four key areas:
- The financing of consumer sales by its small business, retail and e-commerce partners; and large retailers via a full range of consumer loans and payment facilities
- Consumer credit either directly (www.franfinance.fr) or through loyalty schemes
- The provision of skills and infrastructure around consumer credit and leasing activities to Societe Generale group brands (Sogefinancement, Sogelease, Starlease, Sogepro, Shine, etc.) and other companies outside the Group (banks, insurance companies, fintechs, neo-banks, etc.)
- The financing of sales by its distributor/producers partners of capital goods to companies in the transport, goods handling, construction, industrial, high-tech and medical fields via leasing or financial leasing.
For more information, visit www.franfinance.com
Founded in 2016 by two French entrepreneurs, Eric Lassus and Xavier Labouret, Treezor is a regulated Fintech authorized to operate in 25 countries as a Payment and Electronic Money Institution and also a key member of international card networks.
Acquired in 2019 by Societe Generale group, Treezor is the European leader in Banking-as-a-Service with a presence in France, Germany, Benelux, Italy and the Iberian Peninsula. Its packaged “embedded finance” solution enables companies to integrate white-label payments into their offer, without any constraints, by outsourcing all the technical aspects via API (from acquiring to issuing), the security aspects (KYC) and the regulatory aspects (Compliance, AML-CFT, etc.) to an international team of experts.
Treezor is a “Unicorn farmer” that has supported the emergence of many European payment unicorns.
Follow us on Twitter @TreezorBanking and on our LinkedIn page.
Founded by two childhood friends looking to find a solution for the savings problems of the 11 million French people who do not save money, Yeeld is now used by nearly 110,000 users who save on average €120 per month.
Yeeld has thus become the top app in France for helping users save money. Much more than just an account, Yeeld is a personal assistant on your phone that puts money aside in a painless way for its users, based on their needs and habits, to reach their saving goals.
For more information, visit www.yeeld.com