PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

French Startup Numeral Aims to Turn Bank Accounts into Microservices

By Steve Murphy
February 7, 2022
in Analysts Coverage, Emerging Payments, Fintech
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
French Startup Numeral Aims to Turn Bank Accounts into Microservices

French Startup Numeral Aims to Turn Bank Accounts into Microservices

This piece posted in TechCrunch describes a funding round and basic business approach for the French 2021 startup Numeral, which is based in Paris. The firm provides a payment automation API designed for modern financial institutions, digital firms, and businesses.  Numeral received a €13 million funding round last month, which it plans to use for increased staffing and connectivity to French and other EU banks going forward.

‘The best way to describe Numeral is by describing what it isn’t. Numeral isn’t an open banking aggregator for consumer apps. It doesn’t compete with Tink, TrueLayer or Yapily….Numeral isn’t a banking-as-a-service provider either. The company doesn’t offer bank accounts, doesn’t generate IBANs and doesn’t issue cards….“We are a payment automation platform for tech companies,” co-founder and CEO Édouard Mandon told me. “We let tech companies connect to their bank account to automate payment operations.” 

As many readers will know, PSD2 has been live across the EU for more than one year, so many retail APIs have been created and deployed.  However, corporate and fintech connectivity to banks has always been a bit more complicated.  Numeral attempts to make that interaction much easier, enabling fintechs to more readily interact with bank accounts via an API. The company expects to expand services to include workflow and orchestration, incorporating potential multiple bank relationships.

‘Once the integration is done, Numeral customers can integrate payment capabilities and features in their apps. The startup also offers a web app for non-technical staff. This way, they can reconcile payments and accounts without having to use the legacy web app offered by corporate banks….Numeral can then add some additional features on top of its API. For instance, you can imagine setting up an approval workflow, a notification system, etc.’

Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: APIConnectivityFintechsFranceFundingNumeral

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Making Real-Time Payments a Reality

    Fulfilling the Promise: Making Real-Time Payments a Reality

    July 10, 2025
    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025
    digital cards

    Beyond Plastic: Why Digital Cards Are the Future

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025
    Rewire Acquires Imagen, Looking at Prepaid Cards for Migrant Workers

    Smells Like Team Spirit: What Makes Cobranded Credit Cards Work

    July 3, 2025
    uk banking outages

    New Continuous Strategies for Battling Account Takeovers

    July 2, 2025
    Fraud Monitoring

    What to Expect When Nacha’s Fraud Monitoring Rules Take Effect

    July 1, 2025
    payments

    Don’t Just React to What’s Next in Payments—Anticipate It

    June 30, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result