What is a fintech and how is Qonto different from other financial providers?

The financial world is changing rapidly. Where you once had to visit a bank branch to open a business account, today you can do everything online — often in under ten minutes. That’s fintech in action: technology that makes banking faster, more affordable and more efficient.
But what exactly is fintech? And more importantly, how do you choose between a traditional bank, a neobank and a fintech company like Qonto? In this article, we explain what fintech means, who the main players are and why Qonto is the smartest choice for many entrepreneurs.

• Fintech stands for financial technology that makes banking faster and more accessible
• Traditional banks are stable but slow, neobanks are fast but often limited in features
• Qonto combines the best of both: speed, transparency and professional tools
• With Qonto, you can open a business account in 5 minutes, completely online
• You get invoicing, expense management, accounting, integrations and excellent 24/7 customer service in one platform
• Qonto grows with your business: from sole trader, to opening a BV to scale-up

The financial world is changing rapidly. Where you used to have to visit a bank branch for a business account, you now arrange everything online — often within ten minutes. That's fintech in action: technology that makes banking faster, cheaper and smarter.

But what exactly is fintech? And more importantly: how do you choose between a traditional bank, a neobank and a fintech company like Qonto? In this article, we explain what fintech means, which players exist and why Qonto is the smartest choice for many entrepreneurs.

Fintech is a combination of 'financial' and 'technology'. It refers to companies that use technology to improve or completely reinvent financial services. Think online payments, digital accounting, or — like Qonto — a fully digital business account.

The meaning of fintech goes beyond just 'an app from your bank'. It's about:

• Speed: processes that took days now happen in seconds
• Accessibility: no need to visit a branch anymore
• Transparency: clear prices (from €5 per month) without fine print
• Automation: less manual work, more time for entrepreneurship

In the Netherlands, the fintech sector is growing fast. According to figures from the Dutch Banking Association, more than 2 million Dutch people now use a fintech service for their daily banking.

Not every fintech company is the same. Roughly speaking, you can divide them into three categories:

Think ING, Rabobank and ABN AMRO. They've existed for decades, have physical branches and offer stability. But they're also slow: opening a business account sometimes takes weeks, and you often pay for services you don't use.

Advantages:

• Well-known names with long history
• Physical branches for personal contact
• Broad services (mortgages, insurance, etc.)

Disadvantages:

• Slow processes and paperwork
• High costs for business accounts
• Limited digital tools
• Limited customer service (long waiting times)

What is a neobank? They are fully digital banks without physical branches. Examples are Revolut, Bunq and GoDutch. They're fast, cheap and user-friendly — but often focused on consumers, not entrepreneurs.

Advantages:

• Fast account opening (usually within 10 minutes)
• Low costs
• Modern apps with many features

Disadvantages:

• Limited business functions (no invoicing, no accounting integrations)
• Limited customer service (often only chatbots)
• No focus on entrepreneurs
• Variable reputation in terms of reliability

Qonto is not a traditional bank and also not a neobank. It's a fintech company that focuses entirely on entrepreneurs. You don't just get a business account, but a complete platform for your finances: from invoicing to expense management and accounting integrations.

Advantages:

• Speed: account opening in 5 minutes
• All-in-one: invoicing, payment cards and credit cards, expense management
• Excellent customer service (average response within 10 minutes and available 24/7)
• Integrations with thousands of tools and accounting packages
• Transparent prices without hidden costs
• You can also start a holding or BV with Qonto

Disadvantages:

• No physical branches (but that makes it efficient)
• Not intended for consumers

Let's be honest: there are plenty of fintech banks in the Netherlands. But why do thousands of entrepreneurs choose Qonto? Here are the main differences.

At traditional banks, opening a business account sometimes takes weeks. You have to send documents, make appointments and wait for approval. With Qonto, you arrange everything online in a few minutes:

1. Enter your company details
2. Upload your identity document
3. Verify your account
4. Done — you immediately receive your Dutch IBAN

No hassle, no paperwork, no waiting times.

Neobanks like Revolut or Bunq offer an account and a card — and that's it. Qonto goes much further:

• Invoicing: create and send invoices directly from your account
• Expense management: scan receipts, categorize expenses automatically
• Accounting integrations: synchronize with Exact, Moneybird, Stripe and more
• Payment cards: up to 200 physical and virtual cards with adjustable limits
• Pre-accounting: automatic categorization for VAT returns

With Qonto, you have one platform for all your financial administration. No more juggling between different apps.

Qonto users save an average of 4 hours per week on administration. That's more than 200 hours per year — time you can spend on entrepreneurship instead of Excel sheets.

Just try calling ING or ABN AMRO with a question about your business account. You'll be on hold for at least 20 minutes. At neobanks, you often only get a chatbot that doesn't understand your question.

Qonto does it differently:

• Average response time: 10 minutes
• Chat, phone and email available
• Real people who understand your business
• Also available in the evenings and on weekends

That makes the difference when you need to solve a problem quickly.

Qonto works seamlessly with more than 11,000 tools. Whether you use Exact, Moneybird, Yuki or another accounting tool — everything synchronizes automatically. That means:

• No duplicate work
• Fewer errors
• Always up-to-date overview of your finances

Traditional banks don't offer this. Neobanks often don't either. Qonto does.

Is your business growing? With Qonto, you can issue up to 200 physical and virtual cards to your team. Set limits per card, block categories (such as entertainment) and keep real-time overview of all expenses.

At traditional banks, you often pay €5 to €10 per extra card per month. With Qonto, this is included in your package.

Below you can see at a glance how Qonto compares to traditional banks, neobanks and other fintechs.

Many neobanks focus on consumers. They don't offer invoicing, accounting integrations or customer service that understands what entrepreneurs need. Qonto has been built for businesses from day one.

More than 500,000 entrepreneurs in Europe use Qonto. Why? Because it works. Here are the most mentioned reasons:

• Time savings: no hassle with paper administration or waiting times
• Overview: real-time insight into your cashflow and expenses
• Scalability: whether you're a sole trader or have a team of 50, Qonto grows with you
• Reliability: regulated by the French supervisory authority ACPR and protected by the deposit guarantee scheme
• Fair prices: from €5 per month, without hidden costs

The process is simple:

1. Go to our Open an account page
2. Enter your company details (Chamber of Commerce number, VAT number)
3. Upload your identity document
4. Choose your package (from €5/month)
5. Within 5 minutes you have access to your account

You immediately receive a Dutch IBAN and can make payments right away. No waiting times, no paperwork.

Qonto has different packages, depending on your needs. Start small and upgrade as you grow. You can always switch without hassle.

Many entrepreneurs make the same mistakes when choosing a business account:

• Only looking at price: a cheap account without features ultimately costs you more time (and therefore money)
• No attention to customer service: when something goes wrong, you want to be helped quickly
• Not checking integrations: do you work with accounting software? Make sure your account synchronizes with it
• Choosing a consumer bank: they're not made for entrepreneurs

Some banks advertise low monthly costs, but then charge extra for transactions, cards and integrations. With Qonto, you know exactly what you pay — no surprises.

Fintech stands for 'financial technology' — companies that use technology to make financial services faster, cheaper and more accessible. Think digital payments, online accounting and business accounts without branch visits.

Not quite. Neobanks mainly focus on consumers. Qonto is a fintech company that focuses entirely on entrepreneurs, with features such as invoicing, expense management and accounting integrations.

Traditional banks are slow, expensive and offer few digital tools. Qonto is 100% online, you open an account in 10 minutes and get immediate access to invoicing, expense management and integrations with accounting software.

Absolutely. Qonto has special packages for sole traders and one-person businesses. You pay from €9 per month and get everything you need to keep your administration in order.

Yes. Qonto is regulated by the French financial supervisory authority ACPR and falls under the European deposit guarantee scheme. Your money is protected up to €100,000.