EU Sovereignty Score
EU sovereignFintech & NeobanksHeadquarters: FR

Wakam: sovereignty score and 8 European alternatives

Wakam is a digital insurer that sells insurance to consumers through business partners, a model the company describes as B2B2C. The Paris-based company Wakam SA is governed by the French insurance code and is approved by the French Prudential Supervision and Resolution Authority (ACPR). Its UK subsidiary, Wakam UK Limited, is authorised by the UK Prudential Regulation Authority (PRA).

The French insurance regulator's register lists Big Wakam as the group head, and the shareholders of Big Wakam were not identified in the sources consulted, so no foreign parent company is named. The website's cookie notice states that data is processed in line with the GDPR and hosted in Europe, but this refers to website analytics; the hosting of policyholder data is not stated. European customers should confirm processing and hosting terms with the insurer before use.

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Sovereignty score
71 / 1000 = high exposure
100 = sovereign
  • Jurisdiction SOV-2100
    Headquartered in the EU: European law applies
  • Data residency SOV-3100
    EU-only hosting
  • Cryptographic key sovereignty SOV-360
    Key management with a European vendor
  • Freedom from lock-in SOV-640
    Closed source: switching requires data migration
  • Source & runtime sovereignty SOV-4 · SOV-655
    Closed source, runtime with the vendor

SOV codes: the matching objective in the European Commission's Cloud Sovereignty Framework. Official source

How the score is calculated

Facts and evidence

Last checked October 11, 2026
Headquarters
FR (EU)Verified by hand
Sovereignty model
Vendor-hosted (EU)Verified by hand
Data hosting
EUVerified by hand
Open-source
NoVerified by hand
GDPR-compliant
YesVendor-stated
Category
Fintech & Neobanks
Type
Product
Website
wakam.com ↗

How we verify · Something wrong? Suggest a correction

Top EU-based & GDPR-compliant alternatives to Wakam

The European alternatives to Wakam come from our knowledge base of over 6,800 vendors. We only list vendors headquartered in the EU or the EEA; fully European-owned vendors rank before vendors with a foreign owner. For each alternative you see the country, the open-source status and a short description.

Score per alternative: 0 = high exposure, 100 = sovereign

116 European Fintech & Neobanks vendors are in the catalogue. View the whole category · Submit an alternative · View category on the map

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Why digital sovereignty matters with Wakam

Wakam is headquartered in FR and therefore falls under European law: the GDPR, NIS2 and the Data Act. No foreign legislation can compel access to your data.

Data is hosted exclusively in the EU, so Wakam scores best on data residency.

Wakam is closed source and hosted by the vendor. The encryption keys and the runtime sit with the vendor and switching requires data migration. Ask about bring-your-own-key, export options and open standards.

What this means for your organisation depends on your whole stack and context. The free assessment weighs Wakam together with your other vendors and gives a total score, a heatmap and the main risk drivers.

Frequently asked questions

What is the best European alternative to Wakam?

It depends on your use case. Strong EU alternatives to Wakam include 1822direkt, ActivoBank and Air Bank. On this page you can compare 8 EU alternatives by jurisdiction, data residency and open-source status.

Are there open-source alternatives to Wakam?

Our list of EU alternatives to Wakam is mostly commercial options. Browse the category on the map for open-source choices.

Is Wakam GDPR-compliant and where is the data hosted?

Wakam is headquartered in FR (EU) and hosts data in EU. That makes Wakam an EU-sovereign choice in its own right; the EU alternatives on this page are comparable European tools.

Details and sources

Verified by handHeadquarters, owner, hosting locations and licence have been checked by us against public sources. Free of charge and for every vendor, not a paid label. Nothing in this knowledge base is taken over automatically. Last checked on October 11, 2026.

Sources

Public sources used in the latest check of this record.

Compliance evidence

The links below point to the vendor's own public documents. We only record what we found: a missing link means "not found publicly", not "not compliant".

No public compliance evidence has been recorded for this vendor yet. Do you know its DPA or subprocessor list? Something wrong? Suggest a correction

Digital sovereignty in Fintech & Neobanks

Fintech & Neobanks: Digital banks, neobanks, money transfers and fintech services. In this category the choice of vendor determines who has legal access to your data, where that data lives and how easily you can switch later.

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8 European alternatives to Wakam — GDPR-compliant & EU-hosted · EU Sovereignty Score