Societe Generale is accelerating its open innovation strategy based on close cooperation with the global Fintech ecosystem.

The first French bank to acquire a Fintech back in 2015 with Fiducéo, Societe Generale has forged close relationships with the global ecosystem, whether through partnerships or investments.

A strengthened startup investment strategy

In 2019, in line with its Transform to Grow strategic plan, the Group is intensifying its investment strategy to create new and increasingly innovative services for clients, detect synergies and anticipate disruptions in the banking sector via the creation of Societe Generale Ventures, a €150 million cross-business fund dedicated to innovation. These investments will concern both external startups such as Treezor, which the Group recently acquired, and internal startups such as Moonshot-Internet.

In 2018, Societe Generale further invested in TagPay’s capital, acquired a stake in Reezocar and announced the acquisition of the Fintech Lumo.

Close relations with the ecosystem in France and internationally

In France, Societe Generale is the founding member and only major banking partner of The Swave, a 2,500 m2 space located in the Grande Arche at La Défense in Paris, devoted to the incubation and support of Fintech and Insurtech startups. Launched by Societe Generale Corporate & Investment Banking (SG CIB), Global Markets Incubator is devoted to Fintech specialising in market activities and supported by The Swave.

Committed to professionals, artisans and retailers, Societe Generale has joined forces with numerous Fintech with a shared desire to promote the emergence of new projects, accompanying innovation and the local economy.
In Africa, where Societe Generale is one of the three international banks most present on the continent, the Group is responding to the challenges of the low level of bank use by developing innovative payment solutions with the Fintech TagPay.

In India, our accelerator Catalyst is opening up business challenges to the Indian ecosystem. Local Fintech are working with businesses to provide a prototype solution in just 6 weeks on topics such as Artificial Intelligence, Machine Learning, Big Data, data visualisation, audio transcription into text and the analysis of customer opinions.

Claire Calmejane Head of Innovation

We are intensifying our interaction with startups in France and internationally with the aim of developing new strategic partnerships.
The goal is to nurture our open banking strategy, support our businesses’ transformation and create new commercial models that will provide value for our clients.

Moonshot-Internet, the new insurtech gem

Incubated within Societe Generale Group and launched in March 2017, Moonshot-Internet is an Insurtech specialised in contextual insurance devoted to travel, e-traders and payment playersand has developed a wide range of affinity insurance solutions. Unique in France and one of only a few in Europe, Moonshot-Internet's solution is based on 3 pillars: technology, data and customer experience.

Find out more about Moonshot-internet

Lumo, a participatory financing platform dedicated to renewable energies

Lumo is a French fintech that, since 2012, has been combining leading expertise in crowdfunding and renewable energies to accelerate the energy transition. The company offers individuals and companies the opportunity to help finance a selection of renewable energy projects in France.

Read the press release

Nephelai

Nephelai is an order entry and financial transaction assistance solution for banks and asset management companies. This fine-tuning saves Front and Middle Office teams time, reduces operational risks and losses, while complying with regulatory constraints.

Find out more about Nephelai

Reezocar

From research to delivery and inspection, Reezocar supports its customers in their automotive project step by step, securing the purchase and leasing of used cars in France and Europe.

Find out more about Reezocar

Acquisition of Treezor, one of France’s pioneering Banking-as-a-Service platforms

Treezor is one of France’s pioneering Banking-as-a-Service platforms, providing services across the entire payment chain through API to many innovative financial-sector companies. This acquisition is part of Societe Generale Group's “Transform to Grow” strategy. It will enhance the Group’s capabilities to deliver innovative services and products to its clients with increased time to market. It reinforces Societe Generale’s position as one of the leading partners for Fintechs and financial institutions.

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TagPay in Africa

The Societe Generale Group acquired a €1 million stake in the capital of French fintech company TagPay, a specialist in digital mobile banking. TagPay is currently being rolled out to several of the Group's subsidiaries in Africa: implementation of a mobile recovery solution for Manko in Senegal, testing of a merchant payment solution at Shell service stations in the Ivory Coast, a mobile banking project involving several Sub-Saharan African countries. It comprises a core banking system built around mobile solutions and adapted for both standard mobile handsets and smartphones. Tagpay offers numerous competitive advantages thanks to its rapid roll-out capacity and extensive catalogue of functions and financial services. It enables access to populations that are not yet availing of banking services and at the same time to the advantages of the growing digital banking market.

Hadrien Devichi and Vianney Chevalier, creators of Elyxir

Financial coaching app Elyxir

What is the idea behind Elyxir? To create a new financial coaching app to enable people to access quality asset management advice. For non-specialists, we're talking about modelling every possible option when faced with an investment or savings decision in order to identify the most efficient strategy. It may sound simple, but it's a major differentiating factor for clients.

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Helping Czech small businesses get paid faster with FinTech Fakturoid

The goal of Fakturoid's founders was to simplify accounting for Czech entrepreneurs. Making their web app available for Komerční banka's clients was a rich Open Banking experience and the 1st cooperation between a bank and a FinTech in Czech Republic! After experiencing the complexity of accounting software when running a small web design business, co-founder Jan Korbel says they wanted to “help entrepreneurs and small business people get paid faster, automate the process of billing and provide business analytics.”

Find out more about Fakturoid

Smartkarma’s award winning equity research platform

Societe Generale today announces a new agreement with Smartkarma, a curated online platform for investment insight focused on the Asian markets. Under this global agreement, Societe Generale will provide its institutional clients access to a new form of equity research based on demand driven and customised content provided by the industry’s highly ranked analysts, academics, data scientists and strategists.

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