Aion Bank, Tricount, and Mastercard Partnered to Revolutionize Shared Expense Management

Digital Payment, Digital Payment Platforms, Banking, Banking Services, Digital Banking, Digital Banking Platform, retail banking, Cloud-based Systems, Banking-as-a-service, BaaS, fintech, fintech outlook
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Tricount, a pioneer in group expenditure management, Aion Bank, a European licensed digital bank, and Vodeno, a cloud-native Banking-as-a-Service provider, have teamed up to offer Tricount’s new service, which lets customers compensate for expenditures with a one-click bank transfer from within the app. Mastercard’s Fintech Express programme introduced the three companies, which provide support and guidance to start-ups and emerging brands at every level of their growth and transformation, from market introduction to global expansion. FinTechs can take advantage of Aion Bank’s ECB license, compliance, and regulatory experience, as well as Vodeno’s VODENO Cloud Platform (VCP), one of its most sophisticated banking platforms that operate solely in the cloud, through the initiative.

Guillebert de Dorlodot, Co-Founder, Tricount, said, “We launched Tricount to make sharing of bills between friends and family easier. For the last 10 years, we have observed triple-digit annual growth. Repayments with direct bank transfers was a long-awaited feature for our Belgian users, and we believe this is one of the first PSD2 integrations that truly makes sense for consumers.” 

Using Tricount’s integrated payment options, users can quickly split bills, categorize expenditures by type, and settle outstanding balances. The latest in-app payment feature eliminates the friction in the expense management process, making bill splitting and calculation quick and easy. Users of the Tricount app can now pay money straight from their bank account, at any time and from anywhere, without sharing IBANs.

Kim Van Esbroeck, Country Manager, Aion Bank Belgium, stated, “Together with Vodeno and, in partnership with Mastercard, we offer innovative, embedded banking services to both regulated and non-regulated entities. Tricount is a good example of our ability to offer payments-as-a-service and innovate this space. Our entire spectrum of products include: deposits, investments and lending together with cards, payments and KYC through our open APIs that can easily connect with any fintech’s frontend.” 

Tricount’s new functionality is powered by Aion Bank and Vodeno, which provide white-label integrated financial solutions to financial as well as non-financial enterprises. The Tricount app will be linked to users’ bank accounts and payments will be initiated by Aion Bank and Vodeno. Users of the Tricount app who want to make direct bank transfer payments will now be able to do it in one easy step. The backbone that allows Tricount users with a Belgian bank account to send and receive money is Mastercard Open Banking technology.

Henri Dewaerheijd, Country Manager, Mastercard BeLux, added, “We are pleased that our FinTech partners Aion Bank, Vodeno and Tricount have chosen the Mastercard Open Banking Connect network to enable safe and easy transfer of funds between users. The application of (PSD2) Payment Initiation as a service is a first for Mastercard in Belgium. We are looking forward to seeing this technology scale in FinTechs or merchant apps.”

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