Tot launches its digital banking platform

Tot, an Italy-based fintech, has announced its market debut.

Tot specializes in micro-enterprises, due to the role these companies play in the Italian economy. Tot’s initial rollout offering is a bank account and payment card, followed by the gradual addition of digital planning and tracking tools that will help small businesses track their expenses, accounts payable, income and their provisions for tax purposes.

This type of bank responds to a real need of the self-employed and VSEs, as evidenced by the more than 1,500 activation requests received during the Beta testing phase. Tot has structured a simple offer which will be enriched with new functionalities in the future.

The offers it has now include a payment account that allows the customer to make transactions, including payment for F24, SEPA and international transfers. In addition, he has a Visa Business credit card linked to the available balance in the current account. With Tot, customers can opt for dynamic credit and debit caps for up to 60 days, making it a “dual” credit card.

Tot’s product solution is based on the partnership signed with Banca Sella for Banking-as-a-Service (BaaS), which allows the fintech to take advantage of the experience of a banking player to respond quickly and accurate to customer demands. A 100% digital service, dematerialized and available 24 hours a day, 7 days a week.

The partnership enabled Tot to start operations and launch its first banking-enabled services for regulatory compliance, focusing entirely on experience and technology.