G+D Netcetera, the financial software subsidiary of Giesecke+Devrient (G+D), has completed the acquisition of the Payments & Banking Services business of Bank-Verlag.
The division’s infrastructure processes around one in four card- and internet-based payments in Germany.
Following the transaction, G+D Netcetera expands its role as a provider of end-to-end digital solutions for the German financial sector.
Carsten Wengel, CEO of G+D Netcetera, will lead the new business unit on an interim basis, together with Sascha Kraatz, a member of the existing management team.
The unit employs approximately 280 people and serves more than 200 banks.
“We are starting a new chapter of growth,”
Wengel said.
“The strong position of Bank-Verlag in the German banking market, combined with our technological capabilities, creates new opportunities. Together, we want to help shape the digital future of the financial industry.”
The acquisition marks a milestone for G+D Netcetera, which is marking its 30th anniversary this year.
Its expanded portfolio now covers payment security, including fraud prevention and secure authentication; payment enablement and integration, such as processing and network connectivity; digital identity services; mobile and web banking applications; and digital wealth solutions.
Alongside the integration process, G+D Netcetera and the new division will determine the future organisational structure and leadership. G+D plans to invest a high double-digit million euro amount in IT modernisation, including cloud-capable architectures, analytics and fraud prevention systems.
Existing client relationships and service-level agreements will remain unchanged.
“The Bank-Verlag has built trust with German banks over more than six decades. That represents both a responsibility and an incentive for us,”
Wengel said.
“In the coming months, I will spend time with our new colleagues and clients. Our objective is to make payments and banking in Germany simpler, more secure and more efficient for banks, merchants and consumers.”
Featured image credit: Edited by Fintech News Switzerland, based on image by freepik
