Intelligent CIO Europe Issue 4 - Page 95

///////////////////////////////////////////////////// INTELLIGENT VERTICAL: BANKING & FINANCE WIRECARD DIGITALISES BANKING SERVICES FOR REISEBANK’S BANKOMO APP Digital banking is becoming more utilised and banks are innovating with mobile banking apps and features. Banks are adapting to the rate of innovation and listening to their customers to expand the digital banking ecosystem. W irecard, a digital financial technology specialist, is expanding its collaboration with ReiseBank, a market leader in the field of travel money in Germany. The partners launched the mobile banking app bankomo on the market in 2017. Now, they are adding to this by enabling users to top up their smartphone account with cash at retail businesses, without a minimum purchase requirement. Wirecard and ReiseBank are providing users with a completely digital banking ecosystem in the form of the bankomo app. People with high mobility stand to benefit. The account can be opened and managed within just a few minutes via video authentication using the intuitive app (iOS and Android). It is linked to a prepaid Mastercard which enables money to be transferred to other bankomo customers (peer-to-peer) within seconds and also supports traditional banking services, such as SEPA transfers and direct debits, as well as standing orders. Furthermore, cash can be withdrawn at any of the 300 ReiseBank cashpoints across Germany. By expanding cash payments and withdrawals, Wirecard is leveraging its position as ReiseBank’s technology partner to make digital banking even more appealing. A partner network of around 9,000 branches across Germany is available for cash payments. This includes “ WIRECARD IS LEVERAGING ITS POSITION AS REISEBANK’S TECHNOLOGY PARTNER TO MAKE DIGITAL BANKING EVEN MORE APPEALING. INTELLIGENTCIO 95