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Alan

Location: Toronto (Headquartered in Paris)

Employees: 600

Funding: €654M

About Alan:

Alan is a pioneering health insurance company founded in 2016 and headquartered in Paris, France. With a mission to transform the healthcare experience, Alan provides innovative health insurance services tailored to businesses of all sizes and independent workers. 

Currently, Alan supports over 650,000 members across 27,000 companies, delivering a seamless and transparent insurance experience characterized by fair pricing and exceptional customer service.

In 2024, Alan expanded into the Canadian market. This move aims to address the high costs and inefficiencies often associated with health insurance in Canada. By offering a 100% transparent pricing model and efficient administrative processes, Alan seeks to revolutionize the health insurance landscape for Canadians. With a growing workforce of over 600 employees, Alan remains committed to member satisfaction and operational excellence.

The Problem

Since expanding into Canada, Alan faced substantial challenges managing banking for its overseas employees. As a small, fast-moving team within a larger structure, the need for an efficient, compliant solution became critical. Alan operates in a highly regulated industry, where robust tracking and audit-ready financial controls are essential. With remote employees, they needed a streamlined solution that didn’t rely on visiting physical branches but could support secure, compliant banking across international locations.

Canada’s traditional banking solutions fell short: big five banks couldn’t meet Alan’s need for digital convenience, quick intercompany transfers, or the ability to set custom corporate card limits to control spending. Manual processes and costly fees compounded these inefficiencies, creating operational roadblocks. Alan sought an innovative, adaptable approach—and found it in Vault.

Jasper Beirens, Head of Finance at Alan, highlighted their initial frustrations: “We live in Europe and have no way of visiting the branch for simple things like wire transfers. In addition, there was no simple way of creating corporate cards for our employees to manage corporate spending.”

The Solution

Vault’s platform provided Alan with self-serve capabilities, empowering the team to move at the speed they needed, with peace of mind about compliance and control. Vault addressed Alan’s banking challenges by delivering:

• Seamless Account Opening: Vault enabled Alan to open a business account entirely online, eliminating the need for in-person meetings—an ideal fit for Alan’s European-based team.
• Centralized Financial Controls: Vault’s platform allowed Alan’s leadership to maintain control while empowering team members with delegated ownership, with central oversight ensuring compliance.
• Custom-Limit Cards for Employees: Vault’s corporate cards offered spending control and visibility, meeting Alan’s need for tailored expense management. Custom limits gave flexibility without compromising financial oversight.
• Flexible Online Banking: Vault’s intuitive interface gave Alan’s finance team visibility into all transactions. With customizable access levels, they could structure approvals for payments and easily access audit-ready financial reports.

The Impact

With Vault, Alan has transformed its approach to banking and financial operations. Self-serve tools let the team move quickly without waiting for local support, while centralized controls provide leadership peace of mind. Vault’s solution supports Alan’s need for speed and compliance, helping them meet regulatory standards without sacrificing agility.

As Jasper Beirens explained, “Vault has revolutionized our expense management, enabling us to focus on delivering exceptional experiences to our clients.”

Vault has proven itself as a trusted partner for Alan, offering the confidence and flexibility needed to navigate their industry’s regulatory requirements while supporting fast, efficient operations.

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Contacts: Jean-Charles Samuelian-Werve - CEO; Mark Goad - General Manager, Canada; Jasper Beirens - Head of Finance

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