German Degussa Bank has partnered with local fintech start-up Giromatch on a pilot project to introduce a virtual Visa credit card for shopping with Amazon Business.
Intended for corporate customers, the card is intended to offer a ‘liquidity advantage’ as the payment terms will be longer.
The firms intend to further develop the new digital solution based on customer feedback, with plans to transfer the experience to additional product groups.
This pilot project is the initial phase of a partnership programme, under which Degussa Bank is set to leverage a white-labelled direct API-based connection, which will be used by Giromatch to provide the bank with a digital account view of each applicant.
The detailed and instant financial data overview is expected to enable quicker loan decisions and flexible re-payment terms.
Degussa Bank head of card business advisory & services, Silke-Christina Kummer said: “In our pilot project Giromatch takes on tasks which require fast and continuous amendments.
“Furthermore, a small and agile company like Giromatch works in a very efficient manner. This is for the benefit of all of our customers.”