Société Générale: announces acquisition of Shine
(CercleFinance.com) - On Tuesday evening the French bank announced the acquisition of Shine.
"Synergies between Société Générale and Shine will better support all entrepreneurs in their growth," it said.
Shine has quickly become a reference neobank, with over 70,000 entrepreneurs in just two years.
Société Générale will also distribute Shine's offer to professional clients.
"Through the acquisition of Shine, we will be able to offer entrepreneurs the widest offer in this growing, high-value market. Shine's model appealed to us because it reinforces our relational promise to offer clients the best of mix of people and digital technology. Finally, there are many synergies with our various businesses allowing us to take our Open Banking strategy to the next level," explained Marie-Christine Ducholet, Director of Société Générale Retail Banking in France.
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"Synergies between Société Générale and Shine will better support all entrepreneurs in their growth," it said.
Shine has quickly become a reference neobank, with over 70,000 entrepreneurs in just two years.
Société Générale will also distribute Shine's offer to professional clients.
"Through the acquisition of Shine, we will be able to offer entrepreneurs the widest offer in this growing, high-value market. Shine's model appealed to us because it reinforces our relational promise to offer clients the best of mix of people and digital technology. Finally, there are many synergies with our various businesses allowing us to take our Open Banking strategy to the next level," explained Marie-Christine Ducholet, Director of Société Générale Retail Banking in France.
Copyright (c) 2020 CercleFinance.com. All rights reserved.