After Hello Bank, Eko and more recently Ma French Bank, it's Prismea's turn to enter the already crowded neobank market. This new subsidiary, 100% owned by Crédit du Nord, is aimed exclusively at professionals.
Prismea relies on Treezor's infrastructure
Prismea was born of a simple observation: the need for a simple, agile online offering reserved for entrepreneurs, and in particular craftsmen, self-employed professionals, micro-entrepreneurs and freelancers. The project was spearheaded by Stéphanie Biron and Dorian Covas, who took part in Société Générale's intrapreneurship program, Internal Startup Call. The project was selected and incubated at Banque Rhône-Alpes until its official launch on December 11.
The new Crédit du Nord subsidiary offers classic online services: a business account that can be opened "in less than 10 minutes", bank account aggregation thanks to a partnership with fintech Budget Insight, a financial management dashboard and a cash management tool. Three packages ranging from 9 to 75 euros per month are offered to customers, depending on their needs.
The neobank has forged technological partnerships with the aim of providing personalized advice to its users. It relies on startup Treezor for its infrastructure and Société Générale for its banking services platform.
Take advantage of Crédit du Nord Group's physical network
By the end of 2020, Prismea plans to enhance its services by offering short-term financing in the form of instant loans, based on its own scoring system. The company promises to respond to financing requests from professionals within 10 minutes, with funds disbursed within 48 hours.
Based in Lyon, the startup, which employs around ten people, is targeting several thousand customers this year. To stand out from the competition, it is banking on its new instant credit offer, but also on the partnerships it has signed. Thanks to the physical network of the Crédit du Nord Group and its eight regional banks, Prismea will also be able to " respond to more complex needs requiring the intervention of experts ".
Despite the fierce competition between banks, Crédit du Nord is confident, relying on the dynamism of the VSE/SME market. 700,000 businesses were created in 2018, an increase of 17% according to INSEE. As such, Prismea will need to prove itself quickly if it is to achieve its objectives and establish itself against other Fintechs. The app will be available in beta on iOS devices at the end of the year.