2024, the Year of Open Banking

Post Image

2023 was an intense year for SlimPay.

Our alignment with the Trustly group, achieving profitability, and reaching the maturity of our operational excellence…

These are successes we wish to celebrate with you, and above all, talk about our excitement in starting this new year and our ambitions in Open Banking.

Let’s recap 2023!

To start off with, we became profitable in 2023, demonstrating our savoir-faire in scaling a business and becoming financially independent. We were able to achieve 20% in growth.

It was also a year for achieving operational excellence: we succeeded in quadrupling our transaction processing capacity, while also cutting the number of customer tickets by more than half.

In 2023, we reached this operational maturity by strengthening our processing capacity, as well as by reducing bugs and incidents, thanks to the investment of all our teams over several years. Goal achieved!

Naturally, these two objectives had one sole purpose: to increase customer satisfaction. This goal was also achieved with a Net Promoter Score (NPS) of 37 in 2023, a sharp increase of 16 points compared to the previous year.

2023 was also the year of focusing on the Insurance industry, with a significant number of new accounts placing their trust in us.

Insurance is an industry in full growth, undergoing major changes to digitalise their payment ecosystem. We are delighted to be a part of this with our Open Banking solution for recurring payments.

We were also able to reinforce our position in the Fitness sector, an industry that has undergone a renaissance since the pandemic, with a massive return of consumers to gyms. We are pleased to support numerous establishments by collecting their subscription payments.

Finally, our merger with the Swedish group Trustly, which became official in September 2023, was a crucial event for us this year. Strengthened by the support of a group specialising in Open Banking, SlimPay now boasts a European and international presence, with major plans for 2024.

2024, the Year of Open Banking for SlimPay

And not just for us…

Like everyone, we have been closely watching various European decisions on instant transfers, which aim to eventually make these transfers free of charge.

In June, we saw the release of the third Directive on Payment Services (DSP3)—currently under discussion at the European level—along with new regulations on payment services, or Payment Services Regulation (PSR). These demonstrate Europe’s desire to develop account-to-account payments.

Open Banking is an opportunity to empower consumers to access, control, and securely share their information—such as an IBAN—within a strictly secure framework.

In our case, Open Banking can be used to make a payment, set up recurring payments, or even to prove a consumer’s identity when setting up a subscription.

For consumers and merchants, Open Banking is the key to simplifying payments, while benefiting from an extremely high level of security.

At SlimPay, we firmly believe that the consumer is the sole owner of their data and that there should be no obstacle preventing them from securely sharing their own data with third parties—with their expressed consent, and under their control.

With Trustly, it is Open Banking itself that we are championing for in 2024. Our driving ambition is to surpass card usage by offering a superior consumer experience: fast, a minimal number of clicks and extremely secure.

2024, for us, is the year of Open Banking in payments and combining maximum security with a frictionless customer experience.

I look forward to discussing all of this with you in more detail.

See you very soon,

CEO SlimPay