Deutsche Bank has selected payments technology company Silverflow for the delivery of two new payment services for corporate banking clients in Germany and payment service providers (PSPs) across Europe and the US.
The new payment services will support the bank’s payments strategy and are expected to launch in Autumn 2021.
The co-operation also includes card acquiring and BIN-sponsorship for cloud-based card acceptance solutions.
Kilian Thalhammer, head of merchant solutions at Deutsche Bank’s Corporate Bank, said: “Deutsche Bank is creating a new digital payment ecosystem, working with best-in-breed tech players like Silverflow.
“With Silverflow’s cloud-native payment technology, we can offer our customers high-end, best-in-class services that set new standards for bank-supported acquiring services and digital payments.”
Through the partnership, Deutsche Bank will enable PSPs across Europe and the US as part of the first step to accept debit and credit card payments through Silverflow’s cloud-based card acquiring service.
Silverflow will provide access to its machine-learning powered merchant chargeback API to manage disputed payments from card issuers on behalf of a cardholder, with initial rollout in Germany.
Anne Willem de Vries, co-founder and CEO of Silverflow, added that it is building a “new payments tech stack for the modern age”.
“Silverflow enables customers and partners to setup, scale and automate manual tasks such as managing chargebacks, alleviating headaches and supporting growth. Signing Deutsche Bank as our global partner is a significant achievement for Silverflow that shows the strength of our technology and team, bringing best-in-class card payments processing to banking customers,” she said.
In a recent Open Banking Expo TV episode, Joris Hensen, who is founder and co-lead of the Deutsche Bank API Program said that, in Europe, regulation had helped to accelerate Open Banking adoption.
Watch the full interview here.