Paris-based banking aggregation and payment automation platform Numeral has launched in the UK to help fintechs address the EU market by accessing Sepa and fighting IBAN discrimination.
The launch comes with the support of Sepa, Bacs, and FPS payments for UK fintechs, and follows integrations with UK banks SVB UK, Barclays, and HSBC.
Victor Mithouard has also been appointed vice president of growth - the company’s first executive in the UK.
Numeral’s banking aggregation and payment automation platform provides fintechs with fast, future-proof and cost-effective access to SEPA, Bacs, and FPS through their banking partners. Firms such as Swile, Spendesk, and Alma use thre outfit as their bank connectivity and payment automation provider and are on track to process €5 billion in 2023 with the platform.
The firm has set its sights on the UK, where it says that, since Brexit, customers of fintechs have faced renewed cases of IBAN discrimination - where companies refuse to accept an IBAN for payment in euros due to its country code.
“Using Numeral, UK fintech companies can connect to and send and receive SEPA payments with the EU banks of their choice, effectively benefiting from EU IBANs,” says Édouard Mandon, CEO, Numeral.
By on Mon, 13 Mar 2023 08:00:00 GMT
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