Penta partners with SWK Bank for company fixed-term deposits

Wednesday 10 November 2021 14:19 CET | News

Germany-based Süd-West-Kreditbank (SWK Bank) has announced partnering with the SME and freelancer bank Penta to enable the option to invest fixed-term deposits.

Penta is a digital platform for business banking for SMEs, sole proprietors and freelancers. The aim of the partnership is to offer company fixed-term deposits for medium-sized businesses. Small and medium-sized companies, freelancers and self-employed people can thus invest working capital at fixed interest rates for different terms and avoid negative interest rates.

For the first time, SWK Bank is expanding its deposit portfolio to include fixed-term deposits specifically for business customers. The SWK Bank is a direct bank for loans and time deposits and as a banking-as-a-service partner, SWK Bank cooperates with other banks and fintech companies and makes its systems and processes available as services in the lending and deposit business.

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Keywords: partnership, SMEs, mobile banking, banks
Categories: Banking & Fintech
Countries: Germany
This article is part of category

Banking & Fintech