Penta, a digital platform for business banking, has teamed up with solarisBank, a technology company with a banking license, to expand its services internationally.
Italy is the first country outside Germany where Penta offers its business banking product, starting with immediate effect. Since the launch of Penta in Germany during December 2017, the company has recorded strong growth, having established itself as a digital banking partner for more than 11,000 companies, according to the official press release.
For its offering of digital business accounts and debit cards with individual limits for employees - so-called Team Cards - Penta relies on the banking infrastructure of the Banking-as-a-Service platform solarisBank, which as a fully licensed bank acts as the account-holding institution.
For solarisBank, the expansion marks the first step into other European countries with a digital banking partner company.
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