German lender Commerzbank has strengthened its partnership will local credit platform called creditshelf Aktiengesellschaft.

The move will enable clients from Commerzbank’s Private and Small-Business Customers segment use creditshelf’s finance solutions. This business segment particularly serves self-employed businesspeople, professionals and small SMEs.

The service is expected to commence with a pilot phase in Commerzbank’s Southern market region.

The partnership with Commerzbank’s Corporate Clients segment, which commenced in 2019, will also continue.

Commerzbank Corporate Sales head Oliver Haibt said: “creditshelf impressively demonstrated the professionalism and efficiency with which it can complement our product range right from the start of our partnership.

“We are using platform solutions in an extremely challenging time and are open to partnerships with fintechs to complement our product range and ensure SMEs have the liquidity they need.”

Founded in 2014, creditshelf arranges bank-independent financing solutions for SMEs and others.

creditshelf founding partner and management board member Dr Daniel Bartsch said: “I am delighted that Commerzbank sees our solutions as a valuable complementary component for their many SME clients.

“I am convinced that we are only just starting the transition towards a modular, digital banking ecosystem. This decision shows that Commerzbank is taking a highly visionary approach in this area.”

Recently, it was reported that Commerzbank is planning to wind up its businesses in Hong Kong, Luxembourg and Hungary. The report came a month after the German lender finalised plans to cut 10,000 jobs and shut down hundreds of branches.