Sopra Banking Software partners with Finom

By Gloria Methri

Sopra Banking Software (SBS) has announced a strategic partnership with Finom, a financial services provider dedicated to SMEs and entrepreneurs.

This partnership aims to provide comprehensive compliance and user verification services, ensuring high standards of regulatory compliance and security in the French FinTech market.

As part of this partnership, SBS will assist Finom in regulatory reporting to the authorities in France. In addition to AML-CTF (Anti-Money Laundering and Counter-Terrorism Financing) and FICOBA (Bank Account File) reporting services, SBS also offers solutions to help Finom Payments, a FINOM group entity, comply with the regulatory requirements of the ACPR (Autorité de Contrôle Prudentiel et de Résolution).

Founded in 2019, FINOM is a digital B2B financial service platform created by entrepreneurs and freelancers for the benefit of entrepreneurs and freelancers. Its international outreach currently provides financial services in France, Germany, Italy, and the Netherlands. Those services include tiered/ authorised/ timed payments, e-invoicing, and business and expense management.

FINOM combines advanced technologies with business management processes to support entrepreneurs in efficiently coordinating their time, finances and resources to be the boss of their own business.

SBS’s reporting services include processing and analyzing data related to banking and financial activities to produce regulatory reports for submission to the ACPR. This strategic choice allows Finom to ensure strict compliance and enhanced security for its users.

Finom said this strategic partnership underscores its commitment to providing high-quality and secure services to its users while benefiting from SBS’s expertise in banking and compliance solutions.