FISV - Deutsche Bank forms JV with Fiserv for payment acceptance in Germany

Deutsche Bank (DB) together with Fiserv (FISV) have announced a joint venture ((JV)) to create a comprehensive provider of payment acceptance and banking solutions.The JV will serve small and medium-sized enterprises (SMEs) in the German market and will be based in Frankfurt am Main, pending regulatory approval. “By combining Fiserv payment solutions with our banking products, we will be able to deliver accounts, payment solutions and banking services to our SMEs,” says Stefan Hoops, Head of Corporate Bank at Deutsche Bank. The JV expects to serve several thousand clients from the start. Deutsche Bank, together with their Postbank and Fyrst brands, has around 800,000 SMEs who will benefit from the new solutions going forward.The JV will also offer services to non-Deutsche Bank-clients and is expected to employ a low triple-digit workforce.

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Deutsche Bank forms JV with Fiserv for payment acceptance in Germany