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Penta and SolarisBank team for business bank accounts for German SMEs

Berlin: where banking innovation happens

Two Berlin-based fintech firms, Penta and SolarisBank, have joined forces to provide German businesses with “fast access to bank accounts”.

Digital bank bunq goes international with open API

bunq goes international with open API

Digital-only banking start-up, bunq, has expanded beyond its native Dutch market to Austria and Germany with the launch of its open API.

Klarna acquires BillPay

Wipro acquires InfoServer

Sweden-based payments provider Klarna has acquired a fellow payments company in Germany, BillPay. The deal is understood to be worth £60 million.

Private equity firms to buy German payments provider Concardis from local banks

Private equity firms take over German payment services provider Concardis

Advent International and Bain Capital Private Equity have signed a definitive agreement to acquire Concardis, a German payment services provider currently owned by local banks. It is understood the price tag is around €700 million.

Mobile payments and European millennials: saying and doing are two different things

Cara O'nions, Vocalink

Vocalink has unveiled its comprehensive research into the habits and perceptions of millennials when it comes to mobile payments. Turns out, this group is still waiting for the “Uber moment” of payments.

Case study: Consorsbank – the pursuit of app-iness

Consorsbank

New retail banking apps are released onto the market daily – from traditional banks entering the app era to new disruptive payments services. What does each one of these apps have in common? The need to perform. When Consorsbank, part of BNP Paribas Germany, launched its retail app, it knew performance mattered. The bank shares how it delivered an app that consumers wanted.

Commerzbank in major job cutting spree

Commerzbank logo

Commerzbank has firmed up plans to lay off nearly 5,000 people. Around 3,000 job cuts will be across the bank’s branch network at home in Germany. Another 1,900+ jobs will be eliminated outside Germany and across Commerzbank’s subsidiaries.

SKG Bank launches digital-only lending and consumer credit service

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SKG Bank, the consumer finance arm of Deutsche Kreditbank (DKB), has unveiled a digital-only lending and consumer credit service. In co-operation with Munich-based FinTecSystems, DKB says in the future loans can be arranged without submitting documents such as bank statements. Thomas Teuber, director of SKG Bank, says its customers “can close more quickly and completely […]

FinTech Group and Rocket Internet team up for digital banking launch

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FinTech Group and Rocket Internet have formed a technology partnership, with the first step to launch a digital bank. Based on the banking licence of its subsidiary bank Biw, FinTech Group will provide Rocket Internet the infrastructure such as its own, proprietary core banking system and automated processes. In addition, XCOM, FinTech Group’s technology supplier, […]

Deutsche Bank gets go-ahead for 3,000 job cuts; invests €750m in digital projects

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Deutsche Bank has got the green light from its work council to cut 3,000 full-time jobs. The cuts mainly impact retail and commercial business lines, with separate talks to be held regarding job cuts across other divisions. This development is part of Deutsche Bank’s major initiative to turn its fortunes around, announced last autumn. 9,000 […]

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