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Company Database - Powens

Open Banking with superpowers

Powens is Open Banking with superpowers. Its unified API goes beyond PSD2 and is  helping over 230 leading financial services players create the Open Finance experiences of  tomorrow right now. The Open Finance platform offers access to loan and savings account  data, investment, and crypto-currency data, as well as automated collection of invoices and supporting documents.

Website

https://www.powens.com/

Active since

2012

Head office

Paris

Country offices

France

Founders

Romain Bignon and Clément Coeurdeuil

Funding rounds and investors

Shareholders: PSG Equity and Credit Mutuel Arkea. Powens raised USD 35 million in April
2022.

 

Year over year growth rate

30%

Number of employees

130

Member of industry association and/or initiatives

France Fintech (https://francefintech.org/);
Finance Innovation (https://finance-innovation.org/en/);
Acsel;
AFEPAME;
AEFI (Asociacion espanola fintech e insurtech);
Italia Fintech;
Federation of The Trusted Third Parties (www.FNTC.org);
France Innovation (https://www.france-innovation.fr/);
Web outside of browsers (A popular framework for data scraping and website API access,
https://woob.tech/);
Berlin Group: NextGenPSD2 Advisory Board Member (https://www.berlin-group.org/);
ETTPA: Executive member of the European Third Party Providers Association;
STET: Task force member (http://www.stet.eu)

 

Contact (phone number / email address)

Cecile Abescat – Head of Marketing & Communications – cecile.abescat@powens.com / +33682276190

CORE SOLUTION

What are the company’s core solutions

Bank: Access PSD2 accounts and transactions to create instant banking experiences.
Wealth: Supercharge your apps with data beyond PSD2: access loans, savings, investments, and crypto portfolios.
Pay: Embed PSD2 A2A payments in your apps and business processes.
Bill: Automate the collection of invoice, tax & payroll data to power up accounting and lending processes.
Check: Instantly verify account ownership with bank identity data directly from the financial
institution.

 

How it works

With Powens, you can initiate payments and aggregate all the financial data and documents you need from over 1800 institutions using a single API and unified development environment.

Powens is an authorised payment institution. In addition, the company has an account aggregation and payment initiation license under PSD2, passported across 30 countries in Europe, the EEA, and the UK.

Powens Console:
Monitor the status and quality of your operation’s service from a single console. To ensure reliable and consistent service, Powens’ banking API connections are actively managed and regularly tested. On-call support is also provided around the clock.

 

Powens Webview:
Offer a simple, secure, and reassuring connection and payment journey to the users of your innovative services thanks to a dedicated interface connecting your solution to Powens’ API.

 

What problems does the company solve

Powens offloads the complexity of composing financial apps enabling fast, agile financial innovation thanks to the ability to compose and recompose apps more easily.

The company provides a complete framework for Open Finance to build superior financial services experiences. Powens clients access a greater depth of data allowing them to innovate, address more use cases, and respond to emerging opportunities.

Powens provides PSD2 data and beyond:
- Savings, investment, insurance, credit, and corporate benefits accounts;
- Trading platforms and crypto wallets;
- Professional and business accounts;
- Invoice reconciliation and document aggregation.

 

Types of supported APIs / API standard supported

REST and OAuth 2.0 compliant API for secure-data sharing

Industries / target market

European Banking Group, Insurances, Fintech Players, Business Management Software, Payment Service Providers, Public Sector

Geographical coverage (operational area)

Europe; UK

Number of connected banks

1800 financial institutions

Account coverage (%) across countries / regions

Bank: UK = 86% ; Germany = 86% ; France = 99% ; Spain = 93% ; Italy = 88% ; Luxembourg = 99% ; Belgium = 98% ; The Netherlands = 30% ; Portugal = 27% ; Romania = 7%; Ireland = 43%

Number of signed-up developers

5000

Number of total end users

1.5 millions

TECHNOLOGY

Cloud enabled

Software language

Python

Software development tools

We are using gitlab as a full CI/CD platform with an additional security tool and checking tool on our pipelines. We are using a lot of open source software and library and contribute financially by sponsoring multiple open source projects like FastAPI and woob.

When was the core technology developed

The first version dates from 2014 but is constantly evolving

CUSTOMERS / CASE STUDIES

Key customers

Groupe BPCE, Harvest, Alma, Euro Information, BNP Paribas, Lydia, Oney, Agicap, Natixis, Maif, Axa, Docaposte, Finary