creditshelf Aktiengesellschaft and Commerzbank AG are deepening their strategic cooperation and expanding it to include Commerzbank's Private and Small-Business Customers segment.
The partnership between creditshelf and Commerzbank that was launched in 2019 is to be expanded. With immediate effect, clients from Commerzbank's Private and Small-Business Customers segment can also use creditshelf's finance solutions. The extended cooperation will kick off with a pilot phase in Commerzbank's Southern market region. Commerzbank's Private and Small-Business Customers segment serves self-employed businesspeople, professionals and freelances, and small SMEs, among others.
For creditshelf, the cooperation provides access to an important target group - small SMEs. In addition, creditshelf's corporate clients will also be able to benefit from Commerzbank's product offering in future. This means that creditshelf will be able to cater to their individual requirements to an even greater extent.
The expansion of the partnership is well-timed given German SMEs' funding situation during the coronavirus crisis. The future belongs to a modern, permeable banking ecosystem comprising both banks and complementary product partners. This also applies to the important German SME lending business.
Dr. Daniel Bartsch, one of creditshelf's founding partners and its Management Board member, Markets, commented on this important milestone as follows: "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."
Oliver Haibt, Head of Corporate Sales at Commerzbank, added: "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."