Shine, the neobank for entrepreneurs
The Group’s fintech is strongly committed to CSR
The neo-bank Shine offers to Very Small Enterprises (VSEs), professionals and self-employed in France an offer combining a full online bank account with a support in the administrative management for their daily activity: calculation of taxes and contributions, billing, accounting simplification etc.
Already 100,000 customers
Since its acquisition by Societe Generale in 2020, Shine has doubled the number of its customers and its employees and tripled its revenues.
While maintaining its identity and autonomy, Shine quickly took advantage of synergies with the Group’s businesses: to broaden and distribute its offer, or to obtain its approval as a payment establishment by the French Prudential Supervision and Resolution Authority (ACPR).
Combining proximity and responsibility
When it was created in 2018, Shine set itself the mission of simplifying the lives of its customers through a banking service responsible for the environment and society. In 2020, its proactive policy earned the neobank the "B Corp" label, which distinguishes companies that reconcile profit and purpose.
Starting in 2019, Shine committed to measuring and publishing its annual carbon footprint, convinced that greater transparency naturally leads to efforts to reduce carbon emissions. Two years later, Shine launched the "Climate Act" initiative, inviting companies it can federate to commit to the same principle. More than 290 companies have already joined the collective.
Shine contributes concretely to the awareness and efforts against global warming through the training of its teams and the support of its customers. The fintech is a member of the organisation "1% for the Planet" and donates 1% of its annual turnover to environmental organisations chosen by its customers and employees.
Convinced of its social responsibility, Shine is committed to gender equality. The neobank introduced the 8-week second-parent leave and published its salary schedule.
#InnovationStories Shine and Societe Generale, the best of the worlds for entrepreneurs
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#InnovationStories: Shine and Societe Generale, the best of the worlds for entrepreneurs
Nicolas Reboud - Co-founder and CEO of Shine:
We realized that the biggest issue for the self-employed or, people who wish to start their business, or those who work for themselves, etc. is they perceive administrative procedures as a burden. When they do something, they feel are not doing it properly. When they do not do something, they feel they should have done something. And this is what we wanted to resolve by creating Shine.
Innovation Stories featuring Shine
Nicolas Reboud:
Fundamentally speaking, Shine's mission is to simplify the life of small business owners and the self-employed by creating a professional account which relieves mental stress. A sort of administrative co-pilot. Innovation lies in the product which is more than just a traditional pro account, with invoices, receipts, etc. And innovation is also present in the back office. A tool used by our operators to answer our clients and allow them to be quicker, more efficient and to simply create a human relationship. We were developing, we achieved good figures, we were raising our B Series. And then Societe Generale came to us and said that we could go the extra mile together, and we realized while discussing that it'll be the best of both worlds.
Cédric Curtil - Head of Strategy & Innovation - Retail Banking - Societe Generale France:
With Shine, Societe Generale acquired the first neo-bank devoted to professionals and a unique system on the market which makes it possible to address the needs of young companies and mainly start-ups when they are getting started, before getting into bigger offers.
Fabienne Chevalier - Head of Societe Generale Professional and TPS market in France:
Shine makes it possible to address needs during business development through a basic banking offer at a low cost and a wonderful digital experience.
Cédric Curtil:
Shine is a system which allows the clients to open an online account and manage it 24/7 completely autonomously.
Fabienne Chevalier:
As the company has evolved, the needs of the CEO also evolve, how he protects his family, how he develops abroad, how he piles up more complex credits. Societe Generale’s offer is complete through its expertise, support, proximity with branch networks and professional spaces. So we also see that, both the offer and the distribution system go hand in hand which allows us, Shine, and Societe Generale to meet all the needs of the professional market.
Mathilde Callède - Head of HR and Culture at Shine:
Shine's goal is to create a responsible bank. In June 2020, we obtained the B-Corp label. This label awards companies who aspire not to be the best in the world, but the best for the world. For example, in terms of environment we pay attention to our carbon footprint. In terms of employees, we are incredibly careful about respecting a work-life balance. We can work as much as we want from home anywhere in France and at Shine we also allow employees to benefit from one day per month of freelancing or volunteering and a lot of them are involved in this today.
Nicolas Reboud:
The joint Shine and Societe Generale project, is to build better banking services together for very small businesses and the self-employed and we spend a lot of energy thinking about how a responsible bank should be and how to build it.