Articles with tag like: Commerzbank

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Commerzbank suffers USD 3.3 bln Q4 loss amid restructuring and COVID-19

News | Payments General | 11 Feb 2021

Germany-based Commerzbank has declared a USD 3.3 billion loss in the fourth quarter of 2020, as the lender undergoes major restructuring and deals fallout from the pandemic, according to Reuters.

Commerzbank, loss, restructuring, COVID-19, bank, Germany, pandemic, lender, branch closure, mBank

BaFin warned by Commerzbank about Wirecard in early 2020, FT reports

News | Payments General | 13 Jan 2021

Commerzbank has warned Germany’s financial watchdog, BaFin, about money laundering risks at Wirecard in early 2020, according to Financial Times.

Wirecard, BaFin, Commerzbank, anti-money laundering, AML, accounting fraud, payments, cross-border payments, banking, PSPs, fintech

Turkish bank İşbank carries second pilot on cross border trade using blockchain

News | E-invoicing, SCF & E-procurement | 11 Nov 2020

İşbank and Commerzbank together with their corporate clients have jointly run their second international trade finance pilot transaction based on distributed ledger technology (DLT).

Isbank, blockchain, DLT, trade finance, Commerzbank, corporate clients, Corda, Marco Polo, Turkey

EIB Group and Commerzbank join forces to support SMEs during the COVID-19 crisis

News | E-invoicing, SCF & E-procurement | 02 Oct 2020

Commerzbank has been backed up by the EIB Group to lend up to EUR 500 million to small and mid-sized businesses in Germany in response to COVID-19.

 

Commerzbank, Germany, COVID-19, EFSI, guarantee, Investment Plan for Europe, EIB, EIF, SMEs

Major Eurozone banks start the implementation phase of the European Payments Initiative

News | Online Payments | 02 Jul 2020

Today, a group of 16 major European banks from five countries (Belgium, France, Germany, the Netherlands and Spain) have paved the way for the future launch of the European Payments Initiative (EPI). 

European Payments Initiative, EPI, payments, banks, digital payments, BBVA, BNP Paribas, Groupe BPCE, CaixaBank, Commerzbank, Crédit Agricole, Crédit Mutuel, Deutsche Bank, Deutcher Sparkassen- und Giroverband, DZ BANK Group, ING, KBC Group, La Banque Postale, Banco Santander, Société Générale, UniCredit

The Financial Conduct Authority fines Commerzbank for money-laundering failings

News | Payments General | 19 Jun 2020

The UK’s financial regulator has fined Commerzbank EUR 42 million for money-laundering failures, including an ‘out-of-control’ system for checking clients.

Commerzbank, money-laundering, UK, financial regulator, Financial Conduct Authority, FCA, Germany, transactions

Commerzbank to raise up to 3 billion euros of capital

News | E-invoicing, SCF & E-procurement | 28 May 2020

Germany-based Commerzbank has announced it will raise up to 3 billion euros of capital.

Commerzbank, Germany, AT1, risk debts, banks, UK, Lloyds

Commerzbank retains stake in mBank

News | Payments General | 13 May 2020

Germany-based Commerzbank has decided to retain a majority stake in its Poland-based subsidiary mBank, and terminate the sales process.

Commerzbank, Poland, banking, mBank, Germany, banks, Deutsche Bank

EIB Group and Commerzbank join forces for additional lending to SMEs and Mid-Caps

News | E-invoicing, SCF & E-procurement | 19 Feb 2020

The EIB Group has provided a mezzanine tranche guarantee of around EUR 100 million to Commerzbank on a EUR 1.500 million granular portfolio of loans to SMEs and Mid-Caps originated by Commerzbank in its ordinary business. 

EIB Group, Commerzbank, lending, SMEs, Mid-Caps

New UK office opened by IDnow

News | Digital Identity, Security & Online Fraud | 22 Nov 2019

IDnow has revealed it is opening a subsidiary in London and expanding its distribution, service, and marketing team for UK.

IDnow, London, UK, subsidiary, expansion, marketing, identity verification, N26, Commerzbank, UBS

Association of German Banks demands a digital Euro

News | Cryptocurrencies | 04 Nov 2019

The Association of German Banks has published its position on digital currency, saying a ‘crypto-based digital Euro’ should be launched.

Commerzbank, Deutsche Bank, FinLeap, Unicredit Bank, cryptocurrency, stable coin, digital euro, central bank digital currency

Alfa-Bank, Commerzbank pilot Marco Polo blockchain trade finance network

News | E-invoicing, SCF & E-procurement | 14 Oct 2019

Russia-based Alfa-Bank and Germany-based Commerzbank have executed a cross-border payments pilot on the Marco Polo blockchain network.

Alfa-Bank, Commerzbank, Marco Polo, Marco Polo trade finance network, trade finance, blockchain, cross-border payments, Oracle Netsuite, R3, Corda blockchain, Russia, Germany, Europe

Bank of America joins the Marco Polo Network

News | E-invoicing, SCF & E-procurement | 19 Sep 2019

Bank of America has announced that it is joining the Marco Polo Network to tackle trade finance challenges.

Bank of America, Marco Polo Network, trade finance, digital banking, US, Asia Pacific, EMEA, Latin America and North America, BNP Paribas, Commerzbank, ING, LBBW, Anglo-Gulf Trade Bank, Standard Chartered Bank, Natixis, Bangkok Bank, SMBC, Danske Bank

South African Standard Bank joins trade finance blockchain Marco Polo

News | E-invoicing, SCF & E-procurement | 23 Aug 2019

Blockchain trade finance network Marco Polo has announced that the South Africa-based Standard Bank Group will be a new member.

South Africa, Standard Bank, Marco Polo, trade finance, blockchain, DLT, Trade Finance Network, Microsoft Dynamics 365, Xero, Oracle Netsuite, R3, Corda, Alfa Bank, Anglo Gulf Trade Bank, Bangkok Bank, Bayern LB, BNP Paribas, Bradesco, Commerzbank

Commerzbank carries out new blockchain trade with logistics provider Logwin

News | E-invoicing, SCF & E-procurement | 16 Aug 2019

Germany-provider Commerzbank and Landesbank Baden-Württemberg (LBBW) have completed a new trade transaction on the Marco Polo platform.

Commerzbank, Logwin, Landesbank Baden-Württemberg, trade finance, trade transaction, Marco Polo, Germany, LBBW, Marco Polo platform, blockchain, distributed ledger technology

Commerzbank, Daimler pilot blockchain digital cash for in-car payments

News | Payments General | 09 Aug 2019

Commerzbank and Daimler Trucks have run a pilot to use the Daimler Truck Wallet to make payments with e-euros from Commerzbank.

Commerzbank, Daimler, blockchain, digital cash, in-car payments, Daimler Truck Wallet

Bangkok Bank, Commerzbank run trade transaction on Marco Polo network

News | E-invoicing, SCF & E-procurement | 30 May 2019

Marco Polo members Bangkok Bank and Commerzbank have jointly executed an international trade transaction using distributed ledger technology (DLT).

Bangkok Bank, Commerzbank, trade finance, Marco Polo, DLT, blockchain trade finance, blockchain, distributed ledger technology, R3, Corda

Commerzbank, GTC to automate digital trade finance

News | E-invoicing, SCF & E-procurement | 20 May 2019

Commerzbank has signed a strategic partnership with GlobalTrade Corporation, to use GTC’s platform to strengthen its digital trade finance product range.

Commerzbank, GTC, GlobalTrade Corporation, trade finance, trade finance business, digital finance, multi-bank technology, Cash Group, Trade Finance Network

Raisin partners with Commerzbank for special fixed-term deposits

News | Payments General | 16 Apr 2019

Raisin’s German savings platform WeltSparen has begun collaborating with Commerzbank to offer their German corporate clients special conditions on fixed-term deposits.

Raisin, Commerzbank, corporate clients, banking, credit institutions

Commerzbank, LBBW pilot trade finance on Marco Polo blockchain

News | Payments General | 28 Mar 2019

German banks LBBW and Commerzbank have announced the completion of their first pilots on the Marco Polo trade finance blockchain network.

Commerzbank, LBBW, trade finance, Marco Polo, blockchain, payments, financing