iBanFirst has chosen Tunisia as the home of its new research and development centre to accelerate its product innovation.
Paris, 22nd July 2020 - iBanFirst, a global financial services player, has chosen Tunisia as the home of its new research and development centre to accelerate its product innovation. The new facility is iBanFirst’s third R&D centre globally, with the other two in Paris and Dijon. The office opening is accompanied by a recruitment plan in France and Tunisia of 45 additional hires in 2020.
Tunisia has been chosen as part of iBanFirst’s product strategy, to leverage the large talent pool of technology and engineering specialists from internationally renowned universities of excellence within the country.
Although the opening of the new centre, originally planned for March, has been delayed due to the COVID-19 crisis, several new employees have been confirmed out of the 20 planned for the Tunisia office by the end of this year.
The opening of the R&D centre will enable iBanFirst to achieve its ambitious research and development goals to continue to innovate and disrupt the financial services market with its B2B payments service.
Oualid Abderrazek, Chief Product Officer at iBanFirst said: "Our decision to locate an R&D centre in Tunisia is part of our global strategy to build a team of highly trained and specialist technology engineers. Tunisia’s heritage as a global leader in STEM skills combined with its geographical, cultural and linguistic similarities with France, made it a sound decision to open the new office in a thriving technology scene.”
"Tunisia represents a great pool of talent in which we will be able to draw the resources to accelerate the development of the products and services of tomorrow. The fact that we are in the same time zone has also been a decisive element in this choice of location, so that the collaboration between the teams in France and those in Tunisia is as fluid and efficient as possible."
Accompanying 3-digit growth
iBanFirst now has more than 4,000 customers on its multi-currency transaction platform, a number that has been steadily increasing since its inception in 2013. It must be said that the company is part of a profound transformation of payment services for SMEs and ETIs, for which the need for speed, transparency, expertise and security is increasingly pervasive. As of March 2020, iBanFirst's annual growth was 180% and between 2016 and 2020, iBanFirst's workforce grew from 16 to 180.
The company is currently working on different scenarios and is developing new features such as the payment tracker, which will soon minimise the risk of SME and ETI defaults, while strengthening mutual trust between customers and suppliers.
iBanFirst is a global financial services provider delivering solutions across banking borders. iBanFirst provides a specialist online platform for multicurrency transactions. As an alternative to the traditional bank offer, iBanFirst enables a payment experience and package of financial services addressing the needs of SMEs in their daily operations.
Thanks to iBanFirst, financial teams can pay and receive payments in any currency, hedge foreign exchange risks, finance their international growth.
Founded in Paris in 2013, at a stone’s throw from the Champs-Élysées, by former bank executives and entrepreneurs, iBanFirst is a French company headquartered in Belgium, with operations in France, the Netherlands and Germany. It is regulated as a payment institution passported throughout the European Union and serves more than 4 000 customers all over Europe. Member of the SWIFT network and SEPA homologated, iBanFirst holds AISP and PISP accreditations under PSD2. It has raised €46m from Xavier Niel and leading European venture capital funds Serena, Breega Capital, Elaia and Bpifrance Large Venture.
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