Deutsche Invests In Traxpay

Deutsche Bank recently announced an investment in Germany FinTech Traxpay, a company that will integrate supply chain financing technologies and solutions within Deutsche Bank's own offering. Traxpay offers dynamic discounting and reverse factoring solutions for corporate customers, which Deutsche Bank said is particularly important today considering businesses' cash flow constraints within supply chains as a result of the global pandemic. In a statement, Daniel Schmand, global head of Trade Finance and Lending at Deutsche Bank, emphasized the role that bank-FinTech collaboration plays in addressing pain points like these, noting, "With Traxpay we have an experienced partner with a good track record. We can work with them to offer our clients further solutions in this area. Our answer to the question 'FinTech or bank' is: 'FinTech AND bank.'"

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