Deutsche Bank partners with Fiserv on payment acceptance

Deutsche Bank has announced a joint venture with Fiserv to create a comprehensive provider of payment acceptance and banking solutions.

The joint venture will serve small and medium-sized companies in the German market and will be based in Frankfurt am Main, pending regulatory approval.

Deutsche Bank, which is Germany’s largest bank, said that it expects the new venture to serve several thousand customers from the get-go.

The joint venture will also offer services to non-Deutsche Bank-clients and is expected to employ a low triple-digit workforce.

“By combining Fiserv payment solutions with our banking products, we will be able to deliver accounts, payment solutions and banking services to our SMEs,” said 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.

Hoops added: “This will translate into a better client experience, lower costs and reduced complexity for clients.”

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