Deutsche Bank signs Google Cloud strategic partnership
Deutsche picks Google after five-month negotiation period.
Germany
Aldi Nord switches card acquiring to Fiserv in five days
Fiserv steps in as long-serving technology partner for retailer.
Commerzbank shareholder calls for 7,000 job cuts
Cerberus Capital Management makes demands of German bank.
Andreas Bittner steps down as co-founder of solarisBank
His five-year contract with the banking-as-a-service platform came to an end on 30 June.
Wirecard’s UK subsidiary WCS: missed red flags
Red flags include late 2018 financials and a €156,000 lost lawsuit.
FCA lifts restrictions on Wirecard Card Solutions
UK watchdog allows payments to restart.
solarisBank lands $67.5m in Series C round
The funding was led by German VC firm HV Holtzbrinck Ventures.
IDnow hopes to bring video authentication to UK banks’ onboarding
Customers include Commerzbank, solarisBank, N26, and UniCredit.
solarisBank enables instalments for German AmEx customers
AmEx users can spread payments of more than €300.
Wirecard files for insolvency amid accounting scandal
The paytech owes creditors almost $4 billion after disclosing a gaping hole in its books.
Wirecard’s former CEO Markus Braun arrested
Munich police say a criminal investigation into Wirecard has been launched.
CFTC fines Deutsche Bank $10m for swaps failure & trade spoofing
Banking giant caught out by US regulator.
Wirecard shares plummet as it announces €1.9bn of missing cash
EY couldn’t find the cash balances — which represent roughly a quarter of its balance sheet.
Deutsche Bank to create new international private bank
The new global private bank will likely hold roughly €250 billion.
Klarna dips its toe in the savings market with Raisin
Offerings range to terms of up to 48 months.
Mobile banking platform Vivid Money launches in Germany
The challenger is working with solarisBank and Visa.
EY sued over Wirecard audit after management board comes under investigation
German regulator alleges Wirecard gave “misleading signals” for its stock market price.
Landesbank Berlin to develop commercial card programme with SIA
German bank will launch co-branded accounts using SIA platform.
Mambu snaps up MD for North America arm from Finastra
Johanna Pugh spent four years at core banking provider Finastra.
KfW completes multi-year deployment of FIS Ambit Focus
German state-owned development bank KfW has completed a multi-year implementation project with FIS. The bank chose the FIS Ambit Focus asset and liability management platform for its market and liquidity risk controlling. According to FIS, the new solution provides the bank with a central data source for measuring, monitoring and reporting on market and liquidity […]
Raisin launches deposit solutions for US banks and credit unions
The fintech wants to help US retail banks offer personalisation.
Anquan Capital partners with crypto arm of Germany’s WEG Bank
The partnership includes an undisclosed investment from Anquan.
Deutsche Bank resumes job cuts during coronavirus
“We decided to further accelerate our cost reduction program,” says CEO.
Fidor Bank loses O2 mobile banking contract
The contract began back in 2016.
N26 lays off 10% of New York-based workforce
The losses are the first to be put down to operational reasons.
N26 extends Series D a second time for $100m raise
The challenger’s Series D round totals to more than half a billion.
Looking beyond the coronavirus trading boom
Some trading apps see their future in the saving market.
Trade Republic lands $62m in Series B funding
German firm secures one of the largest Series B funding rounds the region has ever seen.
Wirecard, SAP and Futur/io launch ‘Innovation Now’ to assist merchants amid COVID-19
Merchants will be able to find “assistance packages” through the platform.
N26 expects 70% of bank branches to disappear in 10 years
The coronavirus is accelerating a permanent change in consumer behaviour, says N26.
Penta lands $20.3m to help German and Italian SME
The round was co-led by RTP Global and HV Holtzbrinck Ventures.
Expense management start-up Payhawk lands $3.3m seed capital
The round was led by N26-backer Earlybird.
Wirecard strikes again with Klarna payments partnership
Also this week, Wirecard teamed with Southeast Asian ride-sharing firm Grab.
Funding Circle plans to cut 125 jobs in Berlin and Amsterdam
P2P firm reacts to poor year in external markets by cutting back.
Santander’s PagoFX to launch in Spring and rival TransferWise
The venture now has a 50-person London-based team.
UniCredit finds two new partners in Tel Aviv’s PayKey and equensWorldline
PayKey is a social app payments integrator, and equensWorldline a pan-European payments processor.
Small business lender iwoca raises €100m for German loan growth
The company says it is the largest fintech small business lender in Germany.
Banking Circle nabs first banking licence from Luxembourg regulators
Banking Circle’s operation centers in the UK, Germany and Denmark will turn into bank branches.
Wematch hosts “first fully electronic” Eurex-LCH basis swap trade
The swap was piloted between Societe Generale and LBBW.
Opel Bank becomes first European lender to pick FIS Modern Banking Platform
FIS follows up its Union Bank deal with a new partner in Germany.
