Isabel Group has announced today the acquisition of ibanity (Lockey SPRL), a developer’s oriented start-up specialized in financial services. This acquisition is a strategic move in reaction to PSD2 (European Payments Services Directive) and will reinforce the position of Isabel Group as market reference in the business and banking ecosystem. By joining forces, Isabel Group and ibanity will boost the move towards open banking solutions in Belgium and Europe.
The EU PSD2 Directive will completely change the way banking takes place. Upon request by the client, banks will have to provide access to account information and open up the initiation of payments to thirdparty payment service providers (TPP). While the sector will have to comply with a set of rules, the developers’ community will be able to let its creativity explode by providing a full range of new services.
“The circle is complete”
“We are really happy and excited to welcome ibanity within the group”, says Jean de Crane, CEO of Isabel Group. By acquiring ibanity, we reinforce our position in the market as thought leader of the business and banking eco-system. Isabel Group launched a “full service mode” offering just a couple of months ago, helping banks to address their challenges in PSD2 compliancy and facilitating the interaction with TPPs. Today, Isabel Group is preparing the market to go beyond pure compliancy. The collaboration with ibanity will make it easier for banks to reach out to the “developers’ community” and address their needs through a market infrastructure and connectivity offered by Isabel Group. The circle is now complete”.
The changes brought by PSD2 are perceived at Isabel Group as a source of many opportunities. Even if those changes are likely to disrupt the current market, they will boost the way banking is done. The PSD2 framework makes it possible for developers to come up with new ideas, launch great new services, helping companies and persons to interact with banks in a different way.
Being an established Fintech, Isabel Group interacts – as a trusted and key partner – successfully with banks and companies for more than 20 years now. Through the acquisition of ibanity, Isabel Group will be able to extend the level of quality and innovation to the developers’ community and to create a state of the art environment.
“Integrating with a bank should not take longer than making a cup of coffee”
Marc Lainez, CEO of ibanity: “We received different offers for taking over the company. We chose Isabel Group because with them, we had the feeling there was a real match in terms of vision, go-to-market strategy and added value to the eco-system. Isabel Group is a solid and trustworthy company. They will help us rapidly roll out in Belgium first, then in Europe in a second stage. Our joint expertise should lead to a situation where integrating with any bank doesn’t take longer than making a cup of coffee.”
“The missing link between the stakeholders”
“Thanks to the opportunities brought by PSD2 and by joining the expertise of Isabel Group and ibanity, we are best placed to boost the way to open banking for all the stakeholders in the eco-system”, says Jean de Crane. “This initiative is really the missing link between banks, software developers and clients. It will help us to provide real added value service to clients help the banks to make the best out of PSD2 and provide the TPP’s and developers’ community with the ideal conditions to let their ideas flourish”.
This operation helps Isabel Group to better understand TPP’s view on the eco-system and gain in agility, while ibanity will benefit from the solidity and sound reputation of Isabel Group. “I’m convinced that the outcome of this operation will generate tremendous added value to the entire eco-system and will reposition Isabel Group at the edge of financial technologies”, says Jean de Crane.