# German Degussa Bank starts cooperation with Fintech Giromatch Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-02-24 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Giromatch and Degussa Bank launch innovative fintech product Meta Description: Giromatch and Degussa Bank AG team up to offer corporate customers a virtual VISA-credit card for shopping with Amazon Business, providing longer payment terms URL: https://financedigest.com/german-degussa-bank-starts-cooperation-with-fintech-giromatchhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd240218-9-1736842962950-compressed.jpg) **The Frankfurt-based startup company Giromatch and the German Degussa Bank AG agreed to work closely together launching a new innovative product. Giromatch extends its position as an API-based IT service provider. Degussa Bank relies on the agility and efficiency of fintech companies whilst Giromatch benefits from the know-how and the network of Degussa Bank.** ![Robin Buschmann und Silke Christina Kummer](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd240218-9-1736842962950-compressed.jpg) Robin Buschmann und Silke Christina Kummer Giromatch’ task is to provide digital services as a white label solution via its API platform. The working cooperation will start with a [pilot project](https://www.financedigest.com/hm-backed-project-pilots-co2-capturing-aprons-at-stockholm-restaurant.html "H&M-backed project pilots CO2-capturing aprons at Stockholm restaurant"). Corporate customers will be able to use a [virtual VISA-credit card](https://www.financedigest.com/virtual-cards-will-help-lead-the-travel-industry-into-a-post-pandemic-boom.html "Virtual cards will help lead the travel industry into a post-pandemic boom") for shopping with Amazon Business in a simple and flexible manner. Customers also benefit from a liquidity advantage [due to longer payment terms](https://www.financedigest.com/automotive-glass-market-to-witness-sales-slump-in-near-term-due-to-covid-19-long-term-outlook-remains-positive.html "Automotive Glass Market to Witness Sales Slump in Near Term Due to COVID-19; Long-term Outlook Remains Positive"). Giromatch and Degussa [Bank will continually observe the customers’ feedback to further develop the digital](https://www.financedigest.com/being-the-best-digital-bank-is-not-enough.html "Being the Best Digital Bank is Not Enough") application route and to transfer experiences to other product groups. For the [joint pilot project](https://www.financedigest.com/bp-solar-joint-venture-expanding-in-australia-with-two-new-projects.html "BP solar joint venture expanding in Australia with two new projects"), Giromatch will access all digital information of the applicants via an application programming interface (API) and summarize it for Degussa Bank in the shortest possible time. A vital element for example is the digital account view, which [enables a detailed and immediate overview of the financial data of a company](https://www.financedigest.com/game-company-roblox-enabled-girls-sexual-exploitation-lawsuit-claims.html "Game company Roblox enabled girl’s sexual exploitation, lawsuit claims"), therefore creating the basis for loan decisions. The legal background delivers the European payment service directive PSD2, which has been [effective since 13th January this year](https://www.financedigest.com/effective-integration-will-improve-mobility-in-the-tl-sector-over-the-next-five-years.html "Effective Integration Will Improve Mobility in the T&L Sector Over the Next Five Years"). Giromatch is specialized in [digital credit solutions and automated customer](https://www.financedigest.com/the-cervical-total-disc-replacement-market-to-grow-based-on-customized-digitization.html "The Cervical Total Disc Replacement Market to grow based on customized digitization") onboarding. We have been able to [create an optimally coordinated process](https://www.financedigest.com/growth-of-mineral-processing-and-mining-industrie-is-creating-demand-for-rotary-trommel-market.html "Growth Of Mineral Processing And Mining Industrie Is Creating Demand For Rotary Trommel Market") on a green field, an advantage which banks can hardly imitate”, explains Giromatch founder and Managing Director Robin Buschmann. “That is why such a project cooperation can be regarded as a natural symbiosis of banks and [fintech companies](https://www.financedigest.com/7-cyber-threats-fintech-companies-should-watch-out-for.html "7 Cyber Threats FinTech Companies Should Watch Out For"). We are proud having Degussa Bank as a strong partner, who follows the same goals we do”, Buschmann continues. “Of course, the loan decision always [remains with the bank](https://www.financedigest.com/bank-of-england-consults-on-remaining-basel-bank-capital-rules.html "Bank of England consults on remaining Basel bank capital rules") “, explains the Giromatch founder. “Giromatch acts as a digital real-time data processor, thus reducing [effort and costs](https://www.financedigest.com/factbox-europes-efforts-to-shield-households-from-soaring-energy-costs.html "Factbox-Europe’s efforts to shield households from soaring energy costs") for the bank. Hence, we do not interfere in the core processes of the [bank and provide real value at the customers’](https://www.financedigest.com/canadian-banks-fighting-brokers-back-for-customers.html "Canadian Banks Fighting Brokers Back For Customers") interface”, Buschmann adds. “In our pilot project Giromatch takes on tasks which require fast and continuous amendments. Furthermore, a small and agile company like Giromatch works in a very efficient manner. This is for the benefit of all of our customers”, says Silke-Christina Kummer, Head of Card Business [Advisory & Services](https://www.financedigest.com/visa-launches-crypto-advisory-service-for-financial-institutions-merchants.html "Visa launches crypto advisory service for financial institutions, merchants") at Degussa Bank AG. Giromatch is a [digital banking](https://www.financedigest.com/standard-chartered-rolls-out-digital-bank-in-hot-singapore-market.html "Standard Chartered rolls out digital bank in hot Singapore market") platform, which develops white label solutions for banks and other financial institutes. The API concept of Giromatch enables access for new customers directly at the credit demand interface, which can be [online or in stationary trading](https://www.financedigest.com/online-trading-and-stock-markets.html "Online Trading and Stock Markets"). The platform was founded in 2014 by Robin Buschmann, Viktor Kraus and Daniel Conradt. CEO Robin Buschmann was previously portfolio manager in the asset management department of [Deutsche Bank](https://www.financedigest.com/citigroup-to-buy-deutsche-bank-license-in-mexico-for-wholesale-unit.html "Citigroup to buy Deutsche Bank license in Mexico for wholesale unit") and worked for the Fixed Income Department at JPMorgan Chase. Victor Kraus was [risk expert](https://www.financedigest.com/flu-experts-gather-with-h5n1-risk-on-the-agenda.html "Flu experts gather with H5N1 risk on the agenda") at Postbank and Hessische Landesbank. He is responsible for the risk [strategy of the platform](https://www.financedigest.com/brand-strategy-tactics-for-an-online-learning-platform.html "Brand Strategy Tactics for an Online Learning Platform"). Daniel Conradt is CTO for Giromatch and has 15 years experience in development and IT security. More information at [www.giromatch.com](http://www.giromatch.com) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---