PPS powers Finland-based challenger bank Talenom

Listed on the Helsinki Stock Exchange since 2015, Talenom provides commercial accounting and bookkeeping solutions across the Finnish and Swedish markets. Its traditional customer base is weighted towards medium size companies, but a strategic focus to increase Talenom’s reach into the SME marketplace has seen the company develop a self-service solution, named ‘Accounting Alex’, which combines accounting software with banking services. The move to supporting smaller businesses highlights Talenom’s commitment to the SME business sector which forms an important part of the European economic landscape.

With the support of PPS, Talenom is filling a gap in the market for alternative business financial services. Through the partnership, Talenom will now be able to integrate financial services into Accounting Alex including both physical and virtual Mastercard payment cards, a Finnish IBAN provided by PPS for all accounts, SEPA payments, and electronic bank account statements.

With the strengthened services to the Talenom platform, users can perform bookkeeping and banking services within the same application, a service that other companies in this space have been unable to do before. As a result of working with PPS, small businesses will be able to set up an account in minutes and enable savings on fees by more than 50%. This joint solution expands and adds value to SME businesses across Finland’s commercial landscape.