SIA has been chosen by Flowe as the firm enhancing its offering of innovative digital services in the areas of e-money, payments, current accounts, loans and savings management.
The benefit corporation of Mediolanum Group, an emerging Italian e-money institution that aims to educate young people on innovation and economic, social and environmental sustainability, provides its services via smartphone through the Flowe App.
Ivan Mazzoleni, Cultural Energy Orchestrator and CEO of Flowe commented: “Flowe is a payment app that looks at the future and focuses on the younger generations, those who have lived digitally from birth and are resistant to the idea of using traditional credit institutions.
“The Flowe card responds to these new needs: the experience of use and speed of transfer. We have gone beyond payment services alone and wanted to build a different and more evolved product which, to the feature s of simplicity and speed, would also add sustainability, an important aspect for new generations. For every wooden card sold, we will plant a tree. And not only that, the social behaviour and the purchases made will be read from a carbon footprint viewpoint and Flowe has a function that offers the possibility to offset it by planting trees.”
In addition to supporting Flowe in its activities for compliance with the regulations required to operate as an Electronic Currency Institution, SIA has also provided access via smartphone to payment services (bank transfers, postal payment slips, etc.) and other applications such as, for example, telephone top-ups.
The Flowe card can be used to make purchases on e-commerce sites and in shops via smartphone and is also available, at the customer’s request, in a wood version, as the company affirms its commitment to sustainability.
Nicola Cordone, CEO of SIA added: “We are proud to have supported the launch of Mediolanum’s strategic initiative Flowe, which shows how Italy is progressively accelerating towards becoming a cashless society and possesses all the skills and digital infrastructures to be able to assert itself on the European market, where several fintechs are already active.
“The partnership with Flowe strengthens the collaboration with Mediolanum Group and confirms SIA’s ability to accompany the digital transformation of financial institutions, corporates and public sector organizations through the development of innovative services such as digital onboarding and e-commerce, thus increasingly encouraging the adoption of electronic payments with particular attention to the environmental aspects.”
