Germany-based Aareal Bank Group has acquired all shares in Collect Artificial Intelligence GmbH (CollectAI), a payment solution provider from the Otto Group for AI-supported, intelligent billing and dunning. 

With the acquisition, Aareal Bank Group is expanding its range of services in the banking and digital solutions business segment to include AI-supported solutions for interactive billing and intelligent dunning. CollectAI designs a simple and digital payment experience for end customers.According to an Aereal representative, the payment solution provider complements the company’s payment platform AEPP offer and gives them the opportunity to open up new market and customer groups.

With its AI-based software, the PSP is represented in the online trade, energy supply companies and banking and insurance sectors. With the acquisition of CollectAI, the "Aareal Next Level" strategy program is being consistently implemented in the Banking & Digital Solutions business segment. The transaction supports the company’s growth plans in the field of payment transactions as well as the non-interest-related commission growth. The partners agreed not to disclose the conditions of the acquisition.