Webhelp acquires regtech firm GreenPoint
Webhelp, a Paris-based customer experience and business process outsourcing (BPO) firm, has acquired fellow French tech company GreenPoint.
GreenPoint specialises in regtech, namely in digital and mobile management of know your customer (KYC), digital processing of customers’ records and customer on-boarding.
Webhelp cites the research by strategy consulting firm Roland Berger, which says that by 2020 European banks will be spending more than €1 billion annually on their KYC management.
The acquisition of GreenPoint “strengthens Webhelp’s ability to service regulated clients and solidifies its regtech BPO offering by creating Webhelp KYC Services (WKS)”.
Sandrine Asseraf, general counsel and member of the executive committee of Webhelp, says there are “a number of business, operational and technical synergies” between the two firms.
“The creation of WKS completes Webhelp’s ambition to develop more holistic regtech BPO solutions,” Asseraf comments.
GreenPoint processes several million documents per year and supports a number of key players in a range of regulated sectors, including: Mangopay (fintech), Plutus (blockchain tap-and-pay), Bourse Direct (online trading), Unilend (crowdlending) and Verlingue (insurance).
The founders of GreenPoint, Benoît Dumortier and Hervé de Kermadec, will lead the development and day-to-day management of WKS, which will continue to be located at GreenPoint’s office in Issy-Les-Moulineaux, France.
Webhelp is keen on M&A. Earlier this year, it bought Dutch voice and speech technology business Telecats. Last year, it made two acquisitions: a social media monitoring and strategy business, Netino, and a digital and mobile customer experience firm, MyStudioFactory.