Fintech meets traditional bank
Banxware, Fintech for integrated financial services and VVRB announce their strategic cooperation and launch a € 100 million loan for small and medium-sized enterprises (SMEs).
After the Fintech Banxware was only founded in September by Miriam Wohlfarth, Jens Röhrborn, and Fabian Heiß, the founding team announced with VVRB its first strategic banking partner today. This enables Banxware to launch its first product on the market: an integrated, digital credit solution for corporate loans.
Banxware is a software-as-a-service provider for integrated financial services that enables any company to offer loans and other banking services to its corporate customers.
The young Fintech thus creates the link between banks, digital platforms, and corporate customers and enables all parties to benefit from new technologies.
For banks, the company offers above all access to new customer groups and an accelerated, digitalised risk assessment procedure, among other things for the granting of loans. Platforms will be able to use the link to expand the range of services they offer to dealers and to strengthen their own competitive position in the market. Corporate customers in turn benefit from a fast, uncomplicated and digital credit approval process.
With Vereinigte Volksbank Raiffeisenbank eG, Banxware has now found its first strong cooperation partner.
VVRB was formed from the merger of Raiffeisen-Volksbank Miltenberg and Volksbank Odenwald and has been operating since 1863. The cooperative bank has been very successfully involved in digital business models, such as instalment financing, on a national level for many years.
As part of the strategic cooperation, the partners will jointly offer new digital financing solutions for small and medium-sized enterprises (SMEs) in Germany. The first jointly offered products include the KfW Fast Loan and the launch of a flexible working capital loan for SMEs via digital platforms and payment providers.
VVRB will make available €100 million for flexible working capital loans to SMEs, which will be intermediated through Banxware and its associated digital platforms and marketplaces. The fully digital loan application line developed by Banxware is used in this process, which enables corporate customers to provide all the necessary information within 15 minutes and receive a real-time commitment.
Ralf Magerkurth, Chairman of VVRB, welcomes the cooperation:
"Together we can create real added value for the customer - that's what counts. Banxware is an excellent and efficient partner in this respect".
Jens Röhrborn, Co-Founder and CEO of Banxware, is also satisfied:
"We are very pleased about the cooperation and, with such a strong partner at our side, we are now able to provide SMEs with fast and completely digital liquidity."
The partnership between Banxware and the traditional bank VVRB not only proves that established companies and Fintechs can benefit from each other, but also symbolises what the banking of the future could look like: fast, digital, invisible and convenient.