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Varengold Bank partners with fulfin to promote the growth of online companies

Thursday 9 June 2022 13:57 CET | News

Germany-based Varengold Bank and fintech fulfin have announced cooperating to promote the growth of online companies.

Varengold will be taking on the position of banking-as-a-service and financing partner, meaning fulfin can meet the demand from its ecommerce and online entrepreneurs. fulfin enables customers to apply for financing by determining the sustainable financial strength of an online business based on financial and transaction data. With the help of PSD2 Open Banking data and ecommerce APIs, a credit assessment can be made possible with the consent of the customer using the digital account view.

The AI ​​model developed by fulfin categorises and evaluates the account transactions of each new customer which enables an assessment of their individual financial situation. According to a fulfin representative, they support online retailers with the financing they need to be able to focus on their own business. A Varengold representative states that with fulfin, they are welcoming another fintech customer to their Banking-as-a-Service offering.


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Keywords: partnership, ecommerce, banking, BaaS, PSD2, Open Banking, transactions
Categories: Banking & Fintech
Companies: fulfin, Varengold Bank
Countries: Germany
This article is part of category

Banking & Fintech

fulfin

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Varengold Bank

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