Case Study: Lunettes pour tous speeds up store transaction reconciliation with Memo Bank virtual IBANs

How the financial teams at Lunettes Pour Tous moved from a time-consuming reconciliation process to one that is largely automated

Lunettes Pour Tous, a French optical retail chain, faced a significant challenge in reconciling cash flow from its 28 stores. All reimbursements from social security and insurance companies were deposited into a single corporate account without references to specific stores, forcing financial teams to manually track thousands of transactions. To solve this, the company partnered with vendor Memo Bank.

Memo Bank implemented a solution using its virtual IBAN service. A unique virtual IBAN was assigned to each store, allowing third-party payers to send reimbursements to a designated identifier while all funds still pooled into the main account. This allowed Lunettes Pour Tous to instantly categorize and track store performance without manual data processing. The solution saved the company tens of hours of labor each month, eliminated errors, and provided a faster, less expensive banking experience through Memo Bank.

Lunettes pour tous

Paul Morlet

Cofounder and CEO