Deutsche Bank and Silverflow: how a strategic fintech partnership redefines acquiring

In an era where traditional banks and fintech startups often compete for market share, Deutsche Bank's partnership with Silverflow stands as a compelling example of successful collaboration. In an exclusive video interview with The Paypers, Kilian Thalhammer, Managing Director and Global Head of Merchant Solutions at Deutsche Bank, revealed how betting on a fintech startup transformed the bank's acquiring capabilities and positioned it for global expansion.

Taking the unconventional path

When Kilian Thalhammer joined Deutsche Bank five years ago, his mandate was clear: build the bank's acquiring business from scratch. Rather than following the conventional route of partnering with established legacy providers, Deutsche Bank made a bold decision three and a half years ago to collaborate with Silverflow, a fintech startup with cutting-edge technology but limited market presence. This choice wasn't straightforward – convincing internal stakeholders required extensive discussions and navigating complex vendor governance processes. However, Thalhammer's vision of building something fundamentally different prevailed, setting the stage for a transformative partnership.

Beyond technology: the power of agility

While Silverflow's modern technology stack, featuring cloud-native infrastructure, APIs, and microservices, was certainly attractive, the partnership's success stemmed from more than just technical capabilities. Silverflow's agile, iterative approach aligned perfectly with Deutsche Bank's need for flexibility as it entered the acquiring market. Unlike traditional implementations requiring years of development, this partnership delivered results in weeks and months, enabling rapid market entry and continuous refinement based on client feedback. The unified platform processing both POS and ecommerce transactions eliminated the complexity of managing multiple systems, while delivering exceptional authorisation rates and reliable performance.

A true partnership model

What distinguishes this collaboration is its genuine partnership approach. Rather than a traditional vendor-client relationship, Deutsche Bank and Silverflow operate as equals, jointly approaching the market and sharing opportunities from both pipelines. This collaborative model has proven essential in the commoditised payments industry, where differentiation requires more than just technology, it demands strategic alignment and shared vision.

Key takeaways

• Strategic partnerships between banks and fintechs can deliver superior results when built on shared vision and mutual trust;
• Choosing innovation over established players requires courage but can provide significant competitive advantages;
• Agility and flexibility in partnership approaches are as important as technological capabilities;
• True partnerships operate on equal footing, with joint go-to-market strategies and shared opportunities;
• Success in commoditised markets requires differentiation through partnership models, not just product features.

As Deutsche Bank and Silverflow look toward global expansion, their partnership exemplifies how traditional financial institutions can successfully leverage fintech innovation. By prioritising agility, embracing new technology, and fostering genuine collaboration, they've created a model for bank-fintech partnerships that delivers real business value. Their journey from startup partnership to global scaling ambitions demonstrates that when established banks are willing to think differently, remarkable transformations become possible.

About Deutsche Bank

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services, as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments, and institutional investors. Deutsche Bank is a leading bank in Germany with strong European roots and a global network.