Deutsche Bank announces global partnership with Silverflow
By Megha Bhattacharya
Deutsche Bank has announced a global partnership with Silverflow in a bid to support the former’s payments strategy. The partnership will include two new payment services, which are expected to launch in Autumn 2021. The partnership will see Deutsche Bank enable PSPs across Europe and the US for boosting debit and credit card acceptance through Silverflow’s cloud-based card acquiring service.
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.”
According to the Bank, Silverflow will also provide innovative new solutions for its corporate banking customers. Initially launching in Germany, Silverflow’s will provide access to its machine-learning powered merchant chargeback API to manage disputed payments from card issuers on behalf of a cardholder.
Anne Willem de Vries, Co-Founder and CEO of Silverflow said, “Silverflow is building a new payments tech stack for the modern age that aims to replace the legacy systems that the industry has long viewed as an immovable force. 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.”
Recently, Deutsche Bank announced the launch of a green deposits programme for its corporate clients. The new cash management solution will be in form of term deposits for under 12 months. Deutsche Bank’s green asset pool may include loans to companies and projects which support the transition to clean energy sources and to an energy-efficient and environmentally sustainable global economy.
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