The media reports that Moss has established a partnership with Deutsche Bank.
The practical result of this interaction will be the simplification of the process of making payments through the Moss expense management platform. Customers will be able to deposit and withdraw funds around the clock. It is the 24/7 mode that will simplify financial operations.
From the third quarter of this year, Moss customers who are engaged in cost management software in the EU will be transferred to Deutsche Bank. Stefan Haslebacher, Chief Operating Officer and co-founder of the company said that the financial institution will take over receiving, storing, and sending funds for Moss. He also said that the firm’s European clients will receive German international bank account numbers upon request.
Kilian Talhammer, head of trading solutions at Deutsche Bank, said that the financial institution seeks to help its partner expand its activities in the German financial market and enter the markets of other countries.
According to experts, this interaction is an example of Deutsche Bank providing support to innovative business models in the fintech industry through the use of global financial services.
The Moss cost management platform helps customers to more effectively implement the expense control process and make rational decisions. For example, consumers receive a hint about what stage they are at in their expenses when making transactions in conditions of a limited budget resource. This was told by the CEO and co-founder of Moss Ante Spittler.
Moss combines solutions and offers packages within a single product as part of the realization of the desire to qualitatively change the way small and medium-sized businesses work. Spittler stated that the platform does not solve all problems, but provides tools to help create a better version of the existing entrepreneurship strategy. He is convinced that every minute saved and every solution that is more efficient than the previous one helps to reach a new level in terms of quality.
Treasuries around the world are focusing on new platforms that provide real-time transaction capabilities and provide access to up-to-date financial information. This was stated by Ole Matthiessen, Deutsche Bank’s global head of money management. In his opinion, the value of the treasury function has increased and has been expanded in terms of universality.
As we have reported earlier, Deutsche Bank’s Blue Water Fintech Lab Launches First Commercial Product.