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Deutsche Bank and Fiserv Announce Joint Venture for Payment Acceptance in Germany
Deutsche Bank, Germany’s largest bank, together with Fiserv, a leading global provider of payments and financial services technology, today announced a joint venture to create a
“By combining Fiserv payment solutions with our banking products, we will be able to deliver accounts, payment solutions and banking services to our SMEs,” says Stefan Hoops, Head of Corporate Bank at Deutsche Bank. “Today, no other provider of such services in Germany can offer this in depth combination of acceptance solutions with banking services being a true “one-stop-shop” for our clients. This will translate into a better client experience, lower costs and reduced complexity for clients,” added Hoops.
The joint venture expects to serve several thousand clients from the start. Deutsche Bank, together with their Postbank and Fyrst brands, has around 800,000 SMEs who will benefit from the new solutions going forward. The joint venture will also offer services to non-Deutsche Bank-clients and is expected to employ a low triple-digit workforce.
“Together with Deutsche Bank, we will be able to help small and mid-sized enterprises in Germany do business in new ways, bringing them a compelling combination of solutions and services to streamline their payment acceptance and banking capabilities,”
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