SONECT Enters the European Union Market with Significant Expansion

ZURICH, Oct. 25, 2024 /PRNewswire/ -- SONECT, a Swiss-based FinTech company and Electronic Money Institution (EMI) connecting consumers with cash access points and offering banking enablement to businesses, has announced an expansion of its services across the European Union. This strategic move underlines the company's commitment to meet the increasing demand for flexible cash and banking solutions within the region.

Entering new markets will enable SONECT to provide more efficient services to individuals, non-financial institutions, banks, financial organisations, and other businesses across the EU. SONECT anticipates increased agility in responding to localised market and user demands by situating itself throughout the European Union.

"Expanding our footprint in the EU by entering local markets reinforces our commitment to ensuring accessible cash and banking enablement solutions for our partners and communities alike," said Konstantinos Birtachas, CEO of SONECT. "This move allows us to remain at the forefront of the fintech industry and market advancements, providing a more seamless and responsive service experience. Our ability to offer our services in new locations is also a testament to our immense growth and enhanced operational capabilities. We aim to bring "virtual ATMs" to every corner of the continent."

With this step, SONECT reaffirms its pledge to deliver secure, efficient, and sustainable cash withdrawal and banking enablement solutions, marking another leap forward in revolutionising cash accessibility and banking enablement internationally. It signals that SONECT wants to become an important player in the digital financial landscape locally and globally.

The SONECT cash withdrawal app is operational throughout Switzerland and Italy and can be downloaded from the App Store and Google Play Store anywhere within the EU. The SONECT application is fully integrated within the open banking aggregated network TWINT, giving Swiss users another option to use the app.  With this expansion, the application will soon become completely functional within the other European Union member states, providing EU citizens with a convenient alternative to traditional ATMs when withdrawing cash. 

About SONECT:

SONECT, a Swiss fintech company, is dedicated to developing digital financial products, including cash withdrawal applications. It also specialises in banking enablement by lending its license to businesses that wish to offer financial services. With a solid presence in the Swiss and Italian markets, the company has become a recognisable brand within the region, allowing it to look to new horizons.

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