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Swiss-based Centralway launches banking platform in Germany
May 9, 2017 / 9:03 AM / in 7 months

Swiss-based Centralway launches banking platform in Germany

TEL AVIV, May 9 (Reuters) - Zurich-based Centralway Numbrs, a mobile app for banking and personal finance operating in Germany, has launched a distribution platform enabling banks to offer financial products such as loans and credit cards.

Centralway said on Tuesday its Numbrs Store is Germany’s first financial products distribution platform run independently of a bank. Banks can integrate their products into the platform for free.

While banks have long developed their own apps, Centralway aggregates all of a user’s accounts, allowing them to be managed together. The app manages 1.5 million bank accounts.

Martin Saidler, the firm’s founder and chairman, told Reuters Centralway will soon launch in the UK after completing a pilot underway.

Saidler holds 70 percent of Centralway, which has raised $125 million from private investors in Europe and Israel and from the Investment Corporation of Dubai.

Deutsche Postbank, norisbank and Sud-West-Kreditbank are among lenders working with Centralway. (Reporting by Tova Cohen)

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