Case Study: Defacto automates payments and reconciliation with Memo Bank

How Defacto automates and reconciles its incoming and outgoing transactions via our Premium banking API and client accounts

Defacto, a fintech that provides short-term loans to SMEs, needed a new banking partner to create a specialized securitization fund. Their challenge was finding a credit institution that could offer a dedicated client account under French regulation and a fully automated, API-driven solution to manage their financial operations without adding complexity or risk.

Memo Bank provided the solution with its suite of client accounts, including the specific account for securitization vehicles, and its Premium banking API. This allowed Defacto to automate payment processing, real-time reconciliation using virtual IBANs, and receive instant notifications. As a result, Defacto integrated the API in days, successfully processed tens of millions of euros through the new account, and avoided the need for multiple finance partners.

Defacto

Charlotte Gounot

Head of Compliance