German companies FinTech Group and Rocket Internet have joined forces to set up a digital bank in Europe.
FinTech Group will utilise the EU bank passport of its subsidiary Bank biw to offer the technological infrastructure for the venture such as its core banking system and automated processes.
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FinTech Group IT system provider XCOM will deliver performance servers and software development services, while Rocket Internet will offer its expertise to the partnership in online marketing, user experience, front-end design, internationalisation, as well as the development of scalable business models.
FinTech Group CEO Frank Niehage said: "We are pleased to have found the perfect partner for creating digital banking services in Europe.
“FinTech Group's profile in financial services and the expertise of Rocket Internet in creating scalable, disruptive business models fit together perfectly. We will make this cooperation a success and participate mutually."
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