Memo Bank chooses Enfuce to launch the first expense platform integrated into a bank account

By Joy Dumasia

Memo Bank, the first independent bank to emerge in France in the last 50 years, has chosen Enfuce as its card-issuing provider. With the partnership, Memo Bank wants to expand its business banking services for small and medium-sized businesses (SMEs) across Europe.

Memo Bank offers all the tools SMEs need to manage their cash flows, including current accounts, loans, and payment facilities. It is fully licensed by the European (ECB) and French (ACPR) banking authorities. Memo Bank is now launching virtual and physical cards enabling SMEs to follow expenses directly from their bank account in real-time.

Jean-Daniel Guyot, Co-founder and President of the Management Board at Memo Bank, said: “We have established a great relationship with the Enfuce team, and we truly appreciate working together. We are very excited about our journey together. Enfuce has proven its ability to accelerate our growth through its great reference cases in Scandinavia.”

Collaboration was one of the biggest factors and values why Memo Bank chose Enfuce as its card-issuing partner. Memo Bank has placed technology at the heart of the partnership not to replace bankers with robots but to give bankers the best tools available for serving their clients. Technology was also one of the biggest factors behind Memo Bank’s decision to work with Enfuce.

“Like Memo Bank, Enfuce has the same DNA in terms of technological architecture, but also has a strong infrastructure and high-security standards holding their customer data in Europe”, Jean-Daniel Guyot continues. 

Denise Johansson, Co-CEO and Co-Founder at Enfuce, said: “We are thrilled to serve our first French customer, and even more excited about the fact that they are the first truly independent bank to emerge in France in the last 50 years.”

Recently, IBS Intelligence reported that Enfuce, the Card-as-a-Service platform for modern card issuing and processing, announced a successful €45 million Series C investment round led by international growth investor Vitruvian Partners.