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  • Writer's pictureJulie

The most important Fintech collaborations of 2021

Following our fintech study, we decided to highlight the most significant fintech collaborations of 2021.

Shift Technology and Monk work together for the benefit of insured people

Founded in 2013, Shift Technology has two SaaS offerings for insurers. The first, called Luke, automates the claims management process, reducing processing time. The second, Force, identifies cases of fraud using a database of 100 million claims. Both solutions are based on artificial intelligence.

By teaming up with Monk, a car damage identification solution created in 2019, Shift Technology wants to strengthen the automation of claims and the fluidity of file management. Based on a photo or video, Monk analyses the damage using artificial intelligence and automatically provides a report on the severity of the damage and its costs. The solution is adapted to the expertise of claims for insurers, in particular thanks to the possibility of integration with ERP systems.

monk shift technology
Monk & Shift Technology

'As part of a strategy of cooperation with our ecosystem of partners, we immediately grasped the potential of Monk and its visual recognition solution applied to the automotive sector. The complementarity of our offerings allows us to provide insurers with a turnkey service that can meet the needs and expectations of their policyholders when they need it most, during a claim.'

Eric Sibony, CSO and co-founder of Shift Technology

Qonto and October collaborate to make it easier to lend to VSEs and SMEs

Launched in July 2017, Qonto is a neobank for entrepreneurs, startups and VSEs. Qonto provides all the traditional banking services (IBAN, bank card, transfers & direct debits) while simplifying the monitoring of its customers' activity. The startup is supported by various accounting software and, thanks to its partnership with LegalStart, assists business creators in filing their share capital. In 2021, Qonto is launching the Flash card, a 100% virtual ephemeral card that allows employees to make their business expenses without advancing any money.

By collaborating with October, which was created in 2014 and specialises in loans to small and medium-sized enterprises, Qonto's aim is to facilitate access to loans for VSEs and SMEs.

Qonto et October
Alexandre Prot, CEO, co-founder of Qonto and Olivier Goy, co-founder of October

'For the first time, our customers who want to take advantage of a loan, including an EMP, have the possibility to access a quick and easy credit solution to finance their project. They can finally centralise everything from their Qonto account, taking advantage of October's expertise. This new offer marks a turning point for Qonto, which adds to its range of financial and accounting solutions a safe and efficient way to finance VSEs and self-employed people'

Alexandre Prot, CEO & Co-founder of Qonto

Lydia structures its marketplace and extends its range of services with Mon Petit Placement, Cashbee, Pretto and Liberkeys

Founded in 2011, Lydia is offering a mobile application since 2013 that allows users to pay back their loved ones, schedule recurring payments and create online savings accounts. A bank card associated with the Lydia account is now offered to individuals, as well as a current account, an interest-bearing savings account, a trading solution and a deferred payment service. These additional services are offered via its marketplace 'Le Marché Lydia'.

La "super-application" Lydia

Lydia also offers professionals a solution for collecting payments online and in shops. The startup aims to become a "super-app" and try to compete with traditional banks in certain banking sectors.

The following collaborations are in line with its ambition:

  • With Mon Petit Placement, an investment and financial education platform for 25-40 year olds created in 2017, Lydia is extending its offer and allowing its customers to access investment services with different returns and risk profiles via a life insurance policy. This collaboration allows Mon Petit Placement to access Lydia's users, i.e. 4 million people and 30% of 18-30 year olds.

  • With Cashbee, a mobile application allowing individuals to earn income from their savings created in 2018, Lydia allows its users to invest their money at advantageous rates but also to receive personalised recommendations. Cashbee is also developing Cashbee+, a long-term savings offer with life insurance.

  • With Pretto, a 100% online home loan broker for individuals created in 2017, Lydia users will be able to simulate their borrowing capacity, compare market offers and take out the loan of their choice. The offer is free of charge for users, with Pretto earning its fees from the commissions paid by the banks. Pretto is also developing its tools Pretto Search, an aggregator of real estate ads, and DataLab, a solution for analysing real estate market trends. In 2021, Pretto launched Finspot, a white label solution for banks and property developers to digitalise their sales process.

  • With Liberkeys, a solution for the digitalisation of real estate transactions created in 2017, Lydia offers its customers a complete real estate solution. Liberkeys takes care of the entire process, from the estimation of the property to the signing of the deed.

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