Milan, 19 June. (askanews) – Swan, a European fintech active in the integrated finance sector, has announced the opening of a new office in Milan. In the company’s vision, presence in the territory will allow Italian companies to access the integrated finance market, which is expected to reach a value of 7.2 trillion dollars worldwide by 2030. “The Italian market – he told askanews Alessandro Giovanelli, Country Lead Italy of Swan – represents in a certain sense what is the breaking point of many fintechs in Europe, because it is too big not to enter, too important, but it also presents many challenges from the point of view of regulation and of bureaucracy. Today we believe that our product is ready and we want to see the glass half full and we are ready to satisfy the demands of the Italian market in this sense and help the fintechs of the Italian future grow together with Swan”. Over 100 European companies have already integrated some banking services into their products, such as accounts, cards and payment systems with Swan. With the idea that the Banking-as-a-Service approach allows companies to improve customer experience and create new revenue streams. “We believe that embedded finance and Swan – added the manager – can help the Italian fintech ecosystem a lot. This ecosystem is at a turning point, certainly a few years behind more advanced markets, but with clear prospects before us of very interesting companies that are emerging. Swan is the right company to stand alongside these companies in their growth by natively integrating financial services into their products and allowing them to focus only on their core business, making payments and financial operations simply a means.” Founded in 2019, Swan has reached the figure of one billion euros of transactions per month and is eyeing a European expansion. The opening in Milan is one of the steps within this broader strategy, fueled by 37 million euros of second stage investments in 2023 and the success of the launches in Barcelona and Amsterdam in the same year. “Our important ambition – concluded Giovanelli – is to become a leading bank in the European market and Swan’s vision is to become that product that will be the basis of all those companies and apps that want to be able to offer their customers services financial immediately.” With the idea of offering companies the tools to enter the integrated finance market and compete on a global scale.
