Tot specialises in microenterprises, because of the role these companies play in the Italian economy. Tot’s initial rollout offer is a bank account and a payment card, followed by the gradual addition of digital planning and monitoring tools that will help small companies keep track of their expenditure, accounts payable, earnings, and provisions for tax purposes.
This type of banking responds to a real need among freelancers and micro-businesses, as demonstrated by the over 1,500 activation requests received during the Beta testing phase. Tot has structured a simple offer which will be improved with new features in the future.
The offerings it has now include a payment account that allows the client to perform transactions including the payment of F24, SEPA, and international transfers. Moreover, it has a Visa Business credit card linked to the available balance on the current account. Through Tot, clients can opt for a dynamic credit ceiling and debit of up to 60 days, making it a ‘dual mode’ credit card.
Tot’s product solution is supported by the partnership signed with Banca Sella for Banking-as-a-Service (BaaS), which allows the fintech to leverage the experience of a banking player to respond in a timely and precise manner to customer requests. A 100% digital service, paperless and available 24/7.
The partnership has allowed Tot to start operations and launch its first services relying on the bank for regulatory compliance, focusing entirely on experience and technology.
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