Majorel Strengthens Its BFSI Portfolio With the Acquisition of French Digital Services Provider ISILIS

By AIT News Desk On Sep 10, 2020

Majorel, the leading global customer experience/BPO company, has acquired Société ISILIS, a preeminent provider of digital services to the BFSI sector and bank account switching services in France.

The investment further expands Majorel’s digital services portfolio for its BFSI clients, consolidating its strong position in the fast-evolving sector. Majorel has more than 20 years’ experience of working with leading banks and financial institutions, with more than 100 long-term clients in the BFSI sector globally.

The acquisition also establishes Majorel’s position as the number one bank account switching service in France and Germany and is an important step forward in the company’s ambition to offer a fully automated digital banking platform for its clients across Europe.

Jérôme Duron, Development Director and Majorel’s BFSI lead in France said: “We’re delighted to join forces with ISILIS. There will be enormous benefits from the very start – by combining Majorel’s market-leading Kontowechsel24 service in Germany and ISILIS, we’ll enable more clients to profit from digitized and simplified processes. And all in compliance with PSD2 (the EU Payment Services Directive).”

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Commenting on the deal, Marine Lecomte, General Manager at ISILIS, said: “We’re all very excited to join Majorel and being able to offer our long-term banking and corporate clients an expanded digital portfolio and extended market reach – backed up by the resources of a leading global business that’s focused on BFSI as one of its key sectors.”

In addition to bank account switching services, ISILIS delivers wider digital solutions for the BFSI sector. These include a unique service to simplify the complex administrative processes related to inheritance, and a sophisticated IBAN (International Bank Account Number) validation process used by top banks and corporates in the fight against fraud.

Oliver Carlsen, Regional CEO at Majorel in Germany and Eastern Europe, who heads-up the company’s global BFSI practice added: “Combining our digital and technology expertise will allow us to offer a fully automated digital banking platform on a European basis, helping our clients to differentiate in a very competitive market. Our initial focus will be on France and Germany, quickly followed by Spain and Italy – further strengthening Majorel’s leadership position in Europe.”