Deutsche Bank signs new partnership with Upvest

By Gloria Methri

European investment infrastructure provider Upvest has entered a partnership with Deutsche Bank. The collaboration will enable Upvest to expand its product offering by embedding Deutsche Bank’s banking infrastructure into its services. It will give Upvest’s clients access to comprehensive end-user cash management solutions, virtual IBANs, and foreign exchange services through Deutsche Bank.

‍Key benefits of the partnership include:

Cash management: Via Deutsche Bank’s banking capabilities, Upvest will handle cash management solutions, allowing financial service providers to optimise liquidity, streamline operations, and improve financial control.

Virtual IBANs: Upvest can now offer instant and easy payment solutions via Deutsche Bank’s innovative virtual IBAN solution. This solution also enables instant matching of incoming pay-ins to accelerate the investment process.

Foreign exchange (FX) services: The partnership will allow Upvest to offer state-of-the-art currency exchange services based on its Investment API. Deutsche Bank’s integrated workflow solution reduces costs for Upvest clients and enables seamless real-time currency conversions for international investments, ultimately improving the overall end-user experience.

Galina Kersten, Head of Tech & FinTech Sales EMEA at Deutsche Bank, said, “Providing our services to the Berliner FinTech Upvest as one of the leading scale-ups in the capital market investment area aligns with our dedicated commitment to supporting tech and FinTech innovation. We look forward to working closely with Upvest to enable pan-European, instant, and API-based solutions in payments, FX, and beyond. The strongly growing neo-broker segment is the ideal fit to experience the innovation power of Deutsche Bank”.

‍Martin Kassing, CEO and co-founder of Upvest added, “We are thrilled to join forces with Deutsche Bank, a global leader in banking. Specifically, the Deutsche Bank team’s FinTech know-how, flexibility, and tech focus will support us in achieving our ambitious growth plans. With their comprehensive banking solutions, we are well-positioned to further enhance our product offering and deliver unparalleled value to our clients.”