Overview

Natixis is a French multinational financial services firm specialising in asset and wealth management, corporate and investment banking, insurance, and payments. The bank was founded in 2006 due to the merger between Natixis Banque Populaire and IXIS. With ~12,000 employees in 35 countries, Natixis supports several corporations, investors, financial institutions, financial sponsors, and customers.

Natixis Algeria, a subsidiary of French corporate investment banking company Natixis, was looking to penetrate a younger customer base in Algeria. With the rise in mobile usage worldwide, Natixis believed the best way forward was to launch a digital, mobile-friendly bank to tap into the tech-savvy youth segment. Natixis partnered with Sopra Banking Software to execute this project.

Sopra Banking Software is a global leader in software and IT services for banks and financial institutions. With their Sopra Banking Platform, they help over 500 customers in 70 countries with digital transformations to be more efficient, agile, and responsive. The company also has comprehensive digital, open, and core banking offerings.

Sopra Banking Software provided a complete front-to-back solution to Natixis for the launch of Banxy, the first smartphone bank in Algeria, in 2018.

Implementation Process

Sopra Banking Software helped Natixis launch a digital, mobile-only bank using its Sopra Banking Platform. This platform is an API-first, component-based banking solution, available as custom or ready-to-use. The Digital Banking Suite and Sopra Amplitude Core Banking Platform were incorporated to create a holistic digital bank with a robust core system.

The aim was to develop an ‘uberised’ bank door-to-door for customer convenience.

A digital onboarding process was created to reach out to a larger audience. Sopra’s solution enables Natixis Onboarding Agents to use video conferencing applications, like Zoom, for identification and KYC.

Benefits

Banxy is the first mobile bank in Algeria as the country moves to encourage mobile banking and payments. Sopra Banking Software’s solution provided a unique and inclusive digital banking ecosystem that transforms the user experience. The platform not only caters to the tech-savvy but also serves as a platform that educates, integrates, and reinforces financial management and well-being.

Several benefits were witnessed soon after launch

• Over 100,000 downloads in 6 months by reaching out to customers in 47 out of 48 states
• Design and quicker time to market of innovative products and services unique to Algeria
• The app has been downloaded more than 500K times over three years and has a 4.2 rating on the Google Store
• With Banxy in play, Natixis has established itself as a pioneer in digital banking in Algeria

Conclusion

Natixis Algerie created Banxy as a secure bank account, accessible via smartphone, offering remote banking services. With the rise in importance of digital banking, Natixis successfully disrupted the market with innovative, digital-only, mobile-friendly Banxy.

Key Facts

Supplier: Sopra Banking Software
Headquarters: France
Founded: 2012
Solution: Sopra Banking Platform, including Digital Banking Suite and Sopra Amplitude Core Banking Platform
Timeline: N/A