Technology

Neobanks: what services for pros?

Whether you are keen to make your business prosper abroad, or you are rather inclined to obtain personalized management services for your professional account, the neobanks provide their professional customers with very differentiating offers, and in fact, often difficult to compare.

When certain neobanks have instead chosen to address micro-entrepreneurs as a priority, like Boursorama, others highlight the widest possible range of services, to appeal to both independent and small and medium-sized businesses businesses. One thing is certain: professionals are sailing in an extremely fragmented sector, where, according to the firm Klein Blue, no less than 46 neobanks compete for the market in Europe.

“While the personal segment already experienced a first wave of disruption in the 2000s with online banking and a second wave in the 2015 years with neobanks, the professional segment had not been disrupted for dozens of years. ‘years. This segment has seen the appearance in recent years of players with rapid growth and with record fundraising (104 million euros raised by Qonto and 460 million euros raised by Revolut in February 2020 “, indicates the cabinet in his report.

These new players differentiate themselves from the “historic” players by an attractive pricing model (Freemium offer, competitive rates), a renewed user experience (quick account opening, real-time management) and a range of services complementary to the banking offer. (management of expense reports, assistance with business creation, cashback offer), according to the research firm. In addition, neobanks sometimes offer associated banking and insurance services, which until now were the prerogative of traditional players, Klein Blue analyzes.

Anyway, everything is not all rosy either, and some are paying the price for the health crisis, according to the wave of layoffs that hit the British fintech Revolut, which the press was made l ‘echo.

Here is a selection of neobanks who dedicate part or all of their offers to companies:

Revolut Business, to operate international transfers

Launched in 2015, Revolut is a generalist neobank which targets both VSEs and SMEs, freelancers and individuals, and currently has 10 million customers, including 300,000 professionals. Customers can make international transfers – an ideal solution especially for companies that have to pay suppliers abroad – and also have the possibility of obtaining physical and virtual cards and tracking expenses in real time.

Revolut offers four types of accounts: the “free” level, which does not allow automated expenditure management; the “development” level at 25 euros per month, which allows access to the account for 10 free employees; the “growth” level at 100 euros per month, which allows access to 30 free employees; and the last level, “large business”, whose negotiable price is not displayed.

The British fintech also stands out in the accounting, cash monitoring and expense report management section. Loan and overdraft functionality will soon be available for all offers. Customers of the three paid offers will also soon be able to edit and track invoices.

N26, cashback offer or the lure of profit

Founded in 2013 in Germany, this 100% mobile neobank, which does not offer a checkbook to its customers, has been established in France since 2015. N26 targets, without distinction, VSEs and SMEs, freelancers, freelancers and individuals and has a total of 5 million customers (individuals and professionals combined). To open an account, there is no need for a minimum deposit amount, but it will be required not to be already a user of N26. It is therefore not possible at the moment to have both a personal account and a professional account at N26, warns fintech.

Professionals can benefit from a 0.1% cashback (or 0.5% for the very premium Business Metal account) on all purchases made with the Mastercard. Real-time notifications are sent to track payment of an invoice, direct debit or receipt of a cashback.

Note that it is also possible to create sub-sets to organize your professional budget, to automatically categorize your expenses, and to personalize the follow-up with thematic hashtags (rent, software, invoices, etc.)

From the intermediate premium level, N26 Business You (billed at 9.90 euros per month), the neobank also offers pro Allianz insurance (travel, car rental, medical emergencies abroad, etc.) and guarantees the absence of fees on payments and withdrawals in foreign currency. N26 Business You also gives access to premium offers to develop its activity (partnership with Wework, Hotels.com, etc.)

With the N26 Business Metal account, the customer benefits from discounts on subscriptions or professional tools such as the Google Ads platform or Lightricks, And.co and Fiverr. This account also provides insurance for his mobile phone (in the event of theft or damage up to 1,000 euros). No minimum deposit required to open an account, just a smartphone and photo ID.

Blank, for better predictive management of your pro account

Created in 219 by Crédit Agricole, Blank offers a banking offer accompanied by an accounting management solution, billing and arrears management as well as a cash forecasting tool. This neobank which is aimed exclusively at pros should launch its first services in the last quarter of 2020.

Among its banking services offered, it guarantees the rapid opening of a professional account (from the Classic offer, therefore not taken into account in the Basic offer), the addition of intelligent notifications, the possibility of categorizing its spending online and exporting accounting documents. In terms of customer management, Blank offers the possibility of creating quotes, invoices and managing arrears. The neobank proposes in particular to take charge, if necessary, of the automatic revival. Customers will also be able to view their financial situation and the next administrative deadlines.

Two prices will be applied, one for micro-entrepreneurs and another for businesses. Customers can then refine their offers between three categories: basic, classic and premium, ranging from 6 to 19 euros.

Prismea relies on its input and output categorization algorithm

Created in 2018 by Crédit du Nord, Prismea offers a professional account, the addition of bank accounts for multi-bank customers as well as a cash forecasting tool. This subsidiary, wholly owned by Crédit du Nord, is intended only for professionals, autoentrepreneurs, VSEs and SMEs, freelancers and liberal professions. So many players, which, according to the parent company, represent “a market of 3.8 million professionals and small businesses”.

It deploys an algorithm for categorizing inputs and outputs which, according to the neobank, is there to “give an analytical vision of activities in real time and build cash flow forecasts that hold up and keep pace over the long term”.

Prismea offers three professional packs at staggered rates: the first is the “starter pack” at 9 euros per month; the second the “performance pack” at 29 euros per month; and finally the “premium pack” at 75 euros per month.

This newcomer to the neobank market also plays on its proximity to a network of advisers to attract its professional clientele, and rethinks the traditional banking approach in tune with digitalization.

Qonto supports business creation

Launched in 2017, Qonto offers traditional banking services (IBAN, bank card, transfers and direct debits) and simplifies the monitoring of the activity of its customers. The neobank, which claims more than 75,000 professional customers, guarantees an account opening in ten minutes, and customer service reachable every day of the week. The professional account is for “all companies and all legal forms”, whether freelance or in a team. For start-ups, VSEs and SMEs, Qonto offers the “equipped” professional account, which provides “all means of payment” to manage expenses (transfers, direct debits, checks, beneficiary management), from 29 euros per month (for the standard rate) and up to 299 euros per month (for the corporate profile).

Two other professional profiles are also covered via the professional account: “solo”, for freelancers and freelancers, from 9 euros per month, and an offer specially dedicated to business creators from 50 euros.

Qonto communicates above all on the “speed” and “transparency” of its offers, by emphasizing “clear and transparent prices, combined with ultra-responsive customer service”, presents fintech on its site.

Beyond keeping a professional account, Qonto offers financial management for professionals, with dedicated access to the company’s accountant and possible integrations with “more than 80 accounting software”, as well as the management of expense reports and receipts in real time after payment. Like N26, Qonto also offers professional insurance, thanks to a partnership with Axa France.

manager.one announces the end of expense reports

Launched in 2017, manager.one offers a current account, a professional bank card and can be managed directly via the mobile app. manager.one offers specific functionalities for its professional customers, such as collection notifications, export of all accounting documents or even obtaining the certificate of capital deposit.

The professional account is accessible, at 29.99 euros per month. Its niche: “saving time for business leaders,” says the company on its website. All of its services are accessible from a mobile phone. manager.one offers to connect the bank account to an accounting software and the neobank offers a Visa Business card without limit and configurable, where each operation is followed with sending notification.

This neobank announces “the end of expense reports” and assigns a card to each employee. Authorizations and payment limits are managed instantly from the customer area. Each employee can access their own operations and it is possible to scan receipts and professional expenses from a mobile, or via download from a computer. The pro offer also orchestrates the categorization of transactions and documentation in real time on the account, thus facilitating export at any time in accounting. “The manager.one API interfaces with the Budget Insight bank data aggregator. If you wish, our solution can automate the export of data from your bank account. They arrive directly in the chosen accounting software ”, explains fintech on its site.

The neobank also offers document recognition technology (RIB, payslips, invoices). Each employee receives an instant salary slip associated with a transfer certificate by e-mail.

Note also that the clients of manager.one can (occasionally and under certain conditions) order bank checks and deposit checks and cash, specifies the company.

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