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Societe Generale becomes a corporate member of the Fintech District to contribute to the development of the Italian fintech ecosystem

It is the first international bank to join the community with more than 100 fintech players.

Societe Generale, one of the leading European financial services groups, and Fintech District, the key fintech community created to feed an ecosystem to support the growth and evolution of the technological and financial system, sign a partnership aimed at generating even greater value for the vibrant Italian fintech industry.

Societe Generale’s entry in the Fintech District community as a "Corporate Member" will offer to the entire ecosystem significant opportunities for the development of fintech projects capable of supporting the digital transformation of the financial sector in Italy.

This important partnership further expands the effectiveness and internationalization of the Fintech District’s community, created in September 2017 with the aim of bringing together startups, entrepreneurs, financial institutions, investors and universities by setting up a network in favour of business and cultural contamination. Societe Generale is the first international bank to join this dynamic network, which has grown from 32 to 110 fintech companies in the last 20 months.

Societe Generale contributes more and more actively to the country's innovation, providing, thanks to its knowledge of the financial markets and of the custodian banking industry, the concrete expertise of its innovative Fintech incubator based in Paris, the Global Markets Incubator, and its know-how in data management and protection. To make its contribution even more effective, Societe Generale’s Italian structure will also make available its team dedicated to Innovation, which has the task of facilitating business transformation through the contribution of digital skills in coordination with the international structures of the Group.

The decision to become a partner of Fintech District confirms Societe Generale's attention towards Italian Fintech and is part of the wider process of innovation and digital transformation that the Group is carrying out at a global level, to offer its customers increasingly advanced and effective services.

Alessandro Gumier, Head of Global Banking and Investor Solutions for Societe Generale in Italy says: "With this partnership, we want to actively contribute to the development of the Italian Fintech ecosystem by providing startups with our expertise to help them develop their ideas and transform them into innovative services. Fintech is contributing to shape the future of the financial industry - closely following its developments and supporting the best projects are essential steps to be able to develop innovative solutions at the service of our customers. The partnership with the Fintech District will allow us to combine our strengths with qualified Fintech companies to rapidly develop innovative solutions, in a perspective of co-construction, for the benefit of our customers.”

Alessandro Longoni, Head of Fintech District says: “We are proud to welcome Societe Generale, the first international bank to become a member of the Fintech District community. At the same time, we recognize how significant a step this partnership represents for this important financial group in the local implementation of its innovation strategy and to assume a role of growing importance on the Italian territory. Societe Generale's entry not only offers added value to the entire community, but also consolidates Fintech District's position both nationally and internationally, as a reference player for developing concrete Open Innovation projects with the world of finance."