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Commerzbank and BNP Paribas part ways over lending JV

Private equity firms take over German payment services provider Concardis

Commerzbank and BNP Paribas have ended their Munich-based lending joint venture (JV), Commerz Finanz. The German bank says it has reached an agreement with BNP Paribas Personal Finance on the split-off of the business division holding the instalment loans brokered by Commerzbank from Commerz Finanz. Michael Mandel, member of the board of managing directors of […]

Commerzbank processes first BPO live transactions in Austria

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Commerzbank has processed the first bank payment obligation (BPO) transactions in Austria, covering the import of bus components from Germany and Italy. The buyer, a customer of Commerzbank Austria, is TAM-Europe, located in Slovenia. The suppliers are MAN Truck & Bus, headquartered in Munich, and ISAF Bus Components, an Italy-based supplier and customer of UniCredit. […]

Commerzbank launches digital mortgage financing app

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Commerzbank is pushing hard on its mortgage lending business ambitions with the launch of a digital financing app. The app is free and users can carry out house and apartment purchases on their smartphones. Included in the app are a budget calculation tool and access to over 200,000 properties in Germany. “We are the first […]

Top fintech stories this week – 21 July 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Commerzbank preps for major job losses

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As part of its massive job cutting spree, Commerzbank has agreed an outline reconciliation of interests and social plan with the employee representative committees in Germany. As reported last year, Commerzbank firmed up plans to lay off nearly 5,000 people. According to a letter by German labour union Verdi, the majority of these job cuts […]

Commerzbank turns to blockchain for digital trade finance

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Commerzbank and the Fraunhofer-Institute for Material Flow and Logistics (IML) in Dortmund have teamed up to research and develop the digitisation of trade finance using blockchain. The bank says by using blockchain or distributed ledger technologies (DLT), it will build a decentralised database for internet of things (ioT) applications and smart contracts. This will offer […]

Analysis: MiFID II – the new transparency regime

Mifid

Having been a fixture on the regulatory agenda for years, the go-live date for MiFID II is now rapidly approaching. On 3 January 2018, the second iteration of Europe’s Market in Financial Instruments Directive and Regulation will bring in sweeping changes to the financial markets on topics such as product governance and suitability, transaction reporting, commodities position limits and transparency.

R3, HQLAX and five banks build collateral lending solution on blockchain

Blockchain

Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.

Cybersecurity: computers or humans – where does the threat lie?

cyberecurity

Digitalisation plays a key role in the fight against payment fraud. Yet Commerzbank’s cybercrime specialists in cash services show that even in this technologically advanced environment, security threats persist. Companies must take steps to ensure that human beings – as well as computers – are protected against crime.

Commerzbank unveils first digital platform for German SMEs

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Commerzbank has developed the first digitalisation platform for small- and medium-sized enterprises (SMEs). Called “#openspace”, and located in Berlin-Schöneberg, it offers long-term co-operation between SMEs, “innovation partners”, and start-ups with the objective of “tackling the challenges posed by the digital future together”. Holger Werner, CEO and founder of #openspace, says “digitalisation dominates the media, sciences, […]

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