• APIs have become the backbone of global businesses, connecting complex webs of critical software. But with ubiquity comes a need for control and reliability; companies need their APIs to run perfectly every time.
• Without Gravitee.io’s effortless control and user-friendly approach to design, management and monitoring the use of APIs, the reliability of systems is at risk. Customer experience is worsened, security risks remain hidden and the business value of technology investment is eroded.
• In addition to a highly intuitive approach to API management, including a visual API designer, Gravitee.io is the only next-generation API management platform with integrated Identity & Access Management (IAM), enabling users to develop, secure, publish and monitor APIs on one platform. 
• Gravitee.io’s unique, developer-first solution offers the richest open source functionality on the market, and has been rapidly adopted by industry. The company is growing 163% year-on-year, and its customers include UK business financial platform Tide and Auchan.
• Investment from AlbionVC & Oxx will enable Gravitee.io to continue growing its team across development, sales and marketing, and expand further into international markets.

 The open source API management platform that gives businesses and their developers unprecedented control over their entire API ecosystem has raised $11m in a Series A round, co-led by AlbionVC and Oxx, to power its expansion in the burgeoning API management market, which is predicted to be worth USD 22 billion by 2028*.

As the world has become more digital, the need for connected software has exploded, and APIs are now ubiquitous. This increased reliance on APIs brings endless possibilities, but also means that APIs should run perfectly every time. For businesses, keeping track of the complex web of APIs being developed and used, all while having to manage security integrations, is a monumental task. 

Gravitee.io is demonstrably making this task effortless for thousands of projects, with customers in 20 countries and 35,000 global downloads per month driving its 163% year-on-year growth.

The open source platform equips organisations to control the full lifecycle of their entire API ecosystem in hours, not months. Developers can rapidly gain control and structured visibility over their entire network. This ranges from developing APIs to securing them with integrated IAM (Identity & Access Management), publishing them, monitoring performance and alerting to issues.

What’s more, Gravitee.io is the only API management platform of its generation that fully integrates its own IAM system, supporting the latest protocols and 2FA, including biometrics. This feature alone saves customers weeks of security integration time and thousands in support contract costs.

Without Gravitee.io, control and insight into API use, the reliability of systems is at risk. Customer experience is worsened, security risks remain hidden and the business value of technology investment is eroded.  

The funding will enable Gravitee.io to continue growing its team across development, sales and marketing, to enhance support for its community of development teams, accelerate delivery of the Gravitee.io team’s expanded vision for API control and expand further into international markets. 

Gravitee.io was born of the frustration that a group of expert developers felt with first-generation API management tools. The feature-rich, developer-first, open source tool that they built for themselves rapidly attracted clients, and today customers include Auchan, a leading French retailer and UK business financial platform Tide .

This demand and enterprise-grade support enabled the team to successfully bootstrap the company to its position today. 

Rory Blundell, CEO of Gravitee.io: “Businesses that can make full use of their data are more successful. So effective API management is becoming a core competence. The challenge for IT teams is to connect the existing data silos, plus emerging streamed data sources, and enable these to be shared in a consistent way, secured in line with best practices and easily governed. Gravitee.io offers the richest open source functionality to make that process effortless for developers and system architects. In AlbionVC and Oxx we have found partners who recognise the value that effortless API control brings to digital enterprises. With their backing, we can accelerate our mission to bring open source control of API ecosystems to the global developer community.”

Paul Lehair, Investor at AlbionVC: “We have been hugely impressed by what the Gravitee.io team has achieved to date. Having been bootstrapped until now, they managed to build the richest open source API management platform, attract clients across sectors and geographies, and constantly win against competitors thanks to their highly flexible platform. We are excited to support Gravitee.io during their next stage of growth as they continue building a category-leading business in this massive space.”

Mikael Johnsson, General Partner of Oxx: “API management is becoming globally mainstream, as businesses worldwide become increasingly reliant on their API infrastructure. Gravitee.io is on a mission to solve a complex business problem with one easy-to-use platform that delivers unprecedented commercial flexibility and superior ROI. With a holistic approach to API management, Gravitee.io offers the ability to quickly and intuitively build, manage and monitor APIs, and seamlessly integrates Identity and Access Management (IAM). Gravitee.io’s impressive growth is testament to the backing of the developer community. We share the Gravitee.io team’s vision for building a category-leading company, and are thrilled to partner with Rory and the team as they accelerate to service global demand."

Guy Duncan, CTO at Tide: “We were looking for a solution to take our APIs to the next level. We found that by using Gravitee.io, we were able to achieve our goals of having a robust, highly automated, scalable, secure and full API Management System. The Open Source nature of Gravitee.io is essential for us at Tide, Gravitee.io’s continual innovation is driven by being open source, and we plan on contributing to ensure that Gravitee.io grows as the Tide business grows. Full support of Open Banking is a perfect fit for Tide’s platform.” 

* Source: https://www.adroitmarketresearch.com/industry-reports/api-management-market

 
Today, Commerzbank’s Board of Managing Directors decided to end the project for outsourcing securities settlement to HSBC Transaction Services GmbH with immediate effect. The reasons for the decision are technical implementation risks and changed market conditions. Due to the project stop, the Bank is anticipating an exceptional write-off of around €200 million in the second quarter of 2021. The write-off will not impact the liquidity or the Common Equity Tier 1 (CET1) capital of the Bank. Furthermore, provisions in the double-digit millions will be set aside.
This year’s cost target of €6.5 billion remains valid in operational terms. However, the expenses for the exceptional write-off come in addition.
 
With this step, Commerzbank reduces complexity in its transformation and will firstly continue to modernise its own system landscape. The IT delivery organisation of Commerzbank introduced two years ago will make an important contribution to this. As part of its strategy 2024, the Bank has created a dedicated Key Area for Securities & Brokerage.
 
Since the launch of the outsourcing project in 2017, the market and technological environment have undergone substantial change. “After careful consideration, we have taken the decision to stop the outsourcing project owing to the high implementation risks. The significant growth in trading volume and the ongoing technological development are allowing us to continue securities settlement profitably,” commented COO Jörg Hessenmüller.
 
The transfer of positions to the systems of the subsidiary company of HSBC planned for the middle of 2021 will not be carried out. Master data already transferred and tax statements relating to securities business are to be transferred back to Commerzbank by the beginning of 2022. Client business will not be affected by this.

Private and public sector unite to support a collaborative virtual platform, which aims to offer digital skills courses to 3.8 million women and create more than one million economic opportunities for women in the region throughout the next three years.

Mastercard today announced that it will join the Regional Alliance for the Digitalization of Women in Latin America and the Caribbean (LAC), a regional multi-stakeholder partnership under the leadership the Ministry of Women and Gender Equality of Chile, supported by Mexico, Uruguay, Costa Rica, Panama, ECLAC, UN Women, and Microsoft. This Alliance will promote collective actions to close the gender gaps in access to skills development for, and use of digital technologies by, women in the region. Specifically, Mastercard will support the implementation of a collaborative virtual platform where entrepreneurs and women interested in the technology and innovation sector in LAC can access training in digital skills, a networking space, and economic opportunities. To further support this Alliance, Mastercard will collaborate with the company Superdigital to deliver specialized solutions and products that will support the personal and economic growth of women entrepreneurs.

The pandemic brought about radical change in the way we work, shop, socialize and interact. With that shift, our digital dependency became even greater. For millions of women today, digital inclusion is a critical step in strengthening their economic potential. Specifically, many entrepreneurs are stuck in the informal sector, unable to grow, which reduces their earning potential and size. In addition, many women entrepreneurs face significant challenges, including lower levels of financial education, fewer women role models, lack of support networks and lack of capital and assets.

“As we emerge out of the first global pandemic in the digital age, we already see a different era,” said Kiki del Valle, executive vice president of Market Development in Latin America and the Caribbean at Mastercard. “In a year when the health and economic implications of COVID-19 were felt by so many, women specifically have been disproportionally impacted. Our collaboration within the Alliance represents our joint effort to provide youths and women entrepreneurs with the knowledge and skills needed to work in the 21st century. If we work together, stay focused and transparent about our progress, we can change the world.”

Mastercard’s partnership within the Regional Alliance for the Digitalization of Women in Latin America and the Caribbean builds on Mastercard’s global commitment to include One Billion in the digital economy, including a direct focus on providing 25 million women entrepreneurs with solutions to grow their businesses.

Mastercard’s commitments to the Alliance include:

• Mastercard Financial Education Toolkit (“MFET”): Knowledge of financial tools can help people make the leap across the digital divide. Mastercard will provide free access to financial education materials to help women owned micro and small businesses effectively manage their finances and grow their business. The MFET offers an intuitive financial education solution through curated lessons, personalized content, and gamification, with the goal of promoting sustainable financial health.
• Digital Entrepreneurship Program: Now more than ever, having a digital presence is critical. Mastercard will offer the expertise of its Digital Allies to encourage the digital transition of small businesses in the region. With technological allies in several countries, the resources will help small businesses start or strengthen their digital business strategies. Alongside these tools, the “LEADS Mujer” virtual accelerator will be made available to support the skills and business growth of women-led SMEs.
• Marketplace enablement: Mastercard will support the development of a marketplace through its partnerships with banks and technology companies that are part of its “Start Path” program. The main goal is to facilitate women owned micro and small businesses to create their online/digital presence and be able to trade in the e-commerce environment.
• Access to payment tools: In the move to digital, accepting digital payments online is key to an improved customer experience. Through Mastercard’s partnership with Superdigital and other financial institution partners of Mastercard, women owned micro and small businesses will be offered the tools and solutions to help enable safe, secure, digital payments.

“The pandemic has had a dramatic effect in accelerating the digital transformation of the economy and all aspects of our lives, making technology essential. This has evidenced the multiple gaps that women face in accessing, using, and creating technology,” said the Minister of Women and Gender Equality of Chile, Mónica Zalaquett. “We cannot allow the preexisting digital gender divide to increase further. We must take this unique opportunity to promote actions that drive a more inclusive digital transformation. With this goal, we launched the Regional Alliance for the Digitalization of Women in Latin America and the Caribbean, which will bring multiple stakeholders together to tackle the challenge of closing digital gender gap in our region and enable women to play a leading role in the digital revolution,” added Ms. Zalaquett.

"This alliance is directly linked to Superdigital's mission. We believe that everyone, regardless of gender, race or social class, has the right to access the possibilities of the digital world and the financial products that enable economic inclusion," comments Leopoldo Martinez, Superdigital's global CEO.  "The inequality of economic opportunities between men and women is still evident in Latin America, and we believe that we can support this segment through simple access and knowledge of the digital financial universe, as well as supporting the entry to the labor markets, the chance to become an entrepreneur, the growth of financial independence and to see ambitions realized," adds the executive.

Increasing women’s access to digital tools and resources is a critical means to unlocking their prosperity both in their business and personal lives. Mastercard is pushing its networks further, forging ambitious partnerships that are transforming the way our world works. This initiative builds on Mastercard’s ongoing global and regional efforts to address the gender gaps and economic challenges faced by individuals. Five years ago, Mastercard created its award-winning Girls4Tech program to inspire young girls to build STEM skills that will help them become future leaders in the field. In addition, last year the company united technology leaders in Latin America, to launch the Tech for Good Partnership a first-of-its-kind private sector agreement to accelerate digital and financial inclusion in the region. Together, its partners pledge to use their resources, assets, and expertise to prioritize digital and financial inclusion efforts in the wake of the pandemic.

Centrify Recognized as a Leader for PAM for Third Consecutive Time, Second Straight Leader Distinction for Thycotic Based on Completeness of Vision and Ability to Execute

ThycoticCentrify, a leading provider of cloud identity security solutions formed by the merger of privileged access management (PAM) leaders Thycotic and Centrify, today announced that both Centrify and Thycotic have been positioned by Gartner, Inc. in the Leaders quadrant of the 2021 Gartner Magic Quadrant for Privileged Access Management. The report evaluated 10 vendors based on completeness of vision and ability to execute.¹ 

Centrify and Thycotic were evaluated separately after their announced acquisition and planned merger by TPG in March 2021. Each company’s evaluation by Gartner in the report reflects their respective positions before the M&A announcement.  

GET COMPLIMENTARY ACCESS TO THE 2021 GARTNER MAGIC QUADRANT FOR PRIVILEGED ACCESS MANAGEMENT: https://thycotic.com/resources/gartner-magic-quadrant-pam/

“We are proud that both Centrify and Thycotic have again been recognized as Leaders in the Gartner Magic Quadrant for Privileged Access Management,” said Art Gilliland, CEO, ThycoticCentrify. “We believe the strengths recognized in the report for each company support our position that we are better together as one company, specifically around synergies related to product strategy and innovation, sales execution, and delivering a world-class customer experience. As we continue bringing these two leaders together, we will grow our existing leading portfolio through innovation and bring transformative PAM solutions to market that address evolving modern identity security requirements.” 

Digital transformation and accelerated cloud migrations are evolving IT trends that create complexity. As a result, many organizations are facing more challenging security scenarios as the IT estate expands via the cloud, containers, microservices, DevOps environments and more. This is driving demand for cloud-first privileged access management solutions to secure the modern threatscape and protect human and non-human identities. According to the latest Gartner worldwide security and risk management spending forecast, spending on privileged access management is expected to grow 17% to reach $2 billion in 2021.²

Centrify was previously named a Leader in 2018 and 2020 Gartner Magic Quadrant for Privileged Access Management reports. Thycotic was also named a Leader in the 2020 Gartner Magic Quadrant for Privileged Access Management. 

Get complimentary access to the report to learn more about evaluations by Gartner: https://info.centrify.com/gartner-mq-privileged-access-management/. 

PAYMENT AND LENDING EXPERTS TO JOIN DEKO AND SUPERCHARGE THE DEKO ECOSYSTEM

Ex-Barclays Payment Gateway CTO Tom Myles will lead the acceleration of the technological development of Deko’s ecosystem 

Rob Fernandes, a leading industry advisor, joins as Chief Product Officer with a focus on growing Deko’s offering and widening its appeal

Deko, the leading retail finance ecosystem, today announces the appointment of Tom Myles as Chief Technology Officer and Rob Fernandes as Chief Product Officer, in roles that will drive the expansion of the business as it looks to add value to its users and enhance its product offering.  

Tom joins Deko after over twenty years’ experience in the payments, banking and fintech sector. In his most recent position as Chief Technology Officer of Barclays Payment Gateway, he led the modernisation and delivery of the Bank’s enterprise payment services, which enabled millions of daily transactions for major international brands. Prior to this, Tom led the technology division for The ai Corporation, providing payment and fraud management services to retailers and banks globally, with a particular focus on machine learning advancements. 

As Chief Technology Officer Tom will focus on accelerating the digital development of Deko’s retail finance ecosystem. He will lead the advancement of the Deko platform to improve the consumer credit experience for lenders, merchants and consumers alike. 

Rob Fernandes joins Deko after twenty years leading product and strategy across payments and fintech. He founded the management consultancy Pay2Z, which advised clients including Tink, Pollinate, Vocalink and Paysafe on payments product strategy. Prior to that he had successful exits with Metacharge and WePay, and led product development at PayPoint Plc. Recently he built a brand new payments business as a partner at ClearCourse, a major technology group backed by Aquiline Capital.

As Chief Product Officer, Rob will recruit and lead a team that will establish a clear roadmap for differentiating Deko in the fast growing retail finance sector. His focus will be on delivering products that accelerate distribution of finance among merchants and platforms and enable a unique marketplace of lending that provides payment solutions for every customer and context, driving the expansion of Deko’s offering.

Incoming CTO Tom Myles comments: “I’m very pleased to be joining Deko at such an exciting moment for the company and the wider payments industry. My experience in the banking and payments sector has demonstrated the huge potential of technology in this space, and its unique ability to provide value as services to both merchants and lenders. I’m very much looking forward to accelerating the development of Deko’s technology that can streamline connections across the financial ecosystem.

“The technology that underpins these retail finance systems is primed for innovation. Deko’s multi-lender ecosystem can simplify finance to allow a seamless flow of transactions, and I’m excited to support their expansion through digital enablement that will benefit merchants, lenders and consumers.”

Incoming CPO Rob Fernandes comments: “Deko provides a unique service linking consumers, merchants and lenders, and I am delighted to be joining their team at a time credit finance is establishing itself at the heart of UK retail payments. There is a clear opportunity to unlock flexible products which serve every basket size, every merchant, and every customer, and I’m very much looking forward to establishing strategies that add real value to our new and existing partners.

“My experience in the payments sector has shown an increasing appetite from platforms that offer integrated payments software across previously untapped industries. I am very excited by the prospect of working with the team at Deko to identify these areas of expansion for retail finance and fuel the growth of our innovative multi-lender ecosystem.”

Deko CEO Michael Dawson comments: “We are very pleased to announce the appointments of Tom and Rob, who both have invaluable experience across the finance and payments sectors. They each bring exceptional insights into the industry, and we are certain that Tom’s technological expertise will combine brilliantly with Rob’s product obsession to drive the development of products that can offer the best possible service to our partners.” 

Intelligent Systems Corporation, the leading provider of innovative credit technology solutions and processing services to the financial technology and services market, intends to hold an investor conference call on August 5, 2021 at 11:00 A.M. Eastern Time in conjunction with the company’s earnings release for the quarter ended June 30, 2021. The company plans to issue a press release with the financial results for the period before the market opens on August 5, 2021.

Interested investors are invited to attend the conference call by accessing the webcast at https://www.webcast-eqs.com/intelligentsystems_08052021/en or by dialing 1-877-407-0890. As part of the conference call, Intelligent Systems will be conducting a question-and-answer session where participants are invited to email their questions to questions@intelsys.com prior to the call. A transcript of the call will be posted on the company’s website at www.intelsys.com as soon as available after the call.

About Intelligent Systems Corporation:
For over thirty-five years, Intelligent Systems Corporation [NYSE: INS] has identified, created, operated and grown technology companies. The company’s principal operations are CoreCard Software, Inc. (www.corecard.com) and its affiliate companies. CoreCard provides prepaid and credit card processing services using its proprietary software solutions that it also licenses to others. CoreCard has designed and developed a comprehensive suite of software solutions that corporations, financial institutions, retailers and processors use to manage credit and debit cards, prepaid cards, private label cards, fleet cards, buy now pay later programs, loyalty programs, and accounts receivable and small loan transactions. CoreCard's flexible and proven processing platform is being utilized in many countries in addition to the United States including Australia, Canada, China, the United Arab Emirates, France, Italy, Mexico, New Zealand, Singapore, South Africa and the United Kingdom. Further information is available on the company’s website at www.intelsys.com or by calling the company at 770-381-2900.

Forward-looking Statements:
In addition to historical information, this news release may contain forward-looking statements relating to Intelligent Systems Corporation and its subsidiary and affiliated companies. These statements include all statements that are not statements of historical fact regarding the intent, belief or expectations of Intelligent Systems Corporation and its management with respect to, among other things, results of operations, product plans, and financial condition. The words "may," "will," "anticipate," "believe," "intend," "expect," "estimate," "plan," "strategy" and similar expressions are intended to identify forward-looking statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. The company does not undertake to update or revise any forward-looking statements whether as a result of new developments or otherwise, except as required by law. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are instability in the financial markets, delays in product development, undetected software errors, competitive pressures, changes in customers’ requirements or financial condition, market acceptance of products and services, the impact of new or changes in current laws, regulations or other industry standards, risks relating to unauthorized access to confidential information due to criminal conduct, attacks by hackers, employee or insider malfeasance and/or human error and declines in general economic and financial market conditions, particularly those that cause businesses to delay or cancel purchase decisions.

Thanks to the network infrastructure SIAnet, the new bank headquartered in Luxembourg allows European financial institutions and corporates to transfer money in real time accessing Eurosystem’s TARGET Instant Payment Settlement service

Banking Circle, the Payments Bank for the new economy, has selected SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, to launch its new instant payments service in Europe connecting to the TARGET Instant Payment Settlement (TIPS) service of the Eurosystem.

Thanks to SIAnet, the ultra-fast fiber optic network infrastructure, Banking Circle enables European financial institutions and corporates to execute instant payments in less than 10 seconds with a maximum amount currently set at 100,000 euros per individual transaction, 24/7, all year long, in line with the SEPA Instant Credit Transfer scheme of the European Payments Council (EPC).

The partnership with SIA also allows Banking Circle customers to benefit from the concession granted by the European Central Bank to SIA and Colt as Network Service Providers for ESMIG (Eurosystem Single Market Infrastructure Gateway). Beyond TIPS, SIAnet enables all the key organizations in the European financial system to access also the platform for the settlement of large-value payments TARGET2, the securities settlement platform TARGET2-Securities (T2S), the Eurosystem Collateral Management System (ECMS), and possibly other new services and applications.

The high-speed, secure and low-latency network infrastructure SIAnet is specially designed to meet the specific requirements of instant payments in terms of security, reliability and performance and it represents a single access channel to the main national and international payment platforms, also including EBA Clearing’s pan-European real-time payment system RT1.

“Banking Circle is making cross border payments faster and more cost effective for Banks and Payments businesses, in turn enhancing the service they provide to their customers. Instant Payments is a crucial part of this and we are delighted that our partnership with SIA enables us to connect to the TIPS platform via our cloud solution. We believe that being the first bank to utilise SIA’s network and cloud integration options sends a clear message that we are committed to getting as close as possible to central banks, Automated Clearing Houses and Clearing and Settlement Mechanisms. Through the partnership with SIA, Banking Circle will deliver Instant Payments at the lowest cost possible and at the highest level of stability for our clients, and their customers. It is a perfect technology match - enabling instant payments in Europe for everyone,” said Michael Boel, Head of Local Clearing, Banking Circle.

“We’re really very proud to contribute to the launch of Banking Circle’s new instant payments service in the European market because it represents another remarkable success of our network services offering at international level. Thanks to the perfect integration of our network with the major public cloud providers on the market, the new digital payment service was up and running in just a few months and is now available for all current and future Banking Circle customers,” said Cristina Astore, SIA’s Northwest Europe and DACH Region Sales Director.

• Creditspring’s Stability Hub, which helps people improve their financial resilience, has seen 82% increase in members since start of COVID-19.
• Members given monthly Stability Score to indicate financial health, as well as personalised tips to improve their situation month on month and increase their chances of securing affordable credit.
• Offers transparent, clear guidance for the millions of people still suffering financially as a result of the COVID pandemic.
• Even as restrictions lift around 2,000 are still signing up to Stability Hub each month, showing the strain on household finances is ongoing.

Creditspring, the subscription loan provider, reveals that it is signing up over 2,000 new members per month for its Stability Hub service, and has seen an 82% increase in members since the start of the pandemic. The free tool provides personalised support for members, including monthly financial health checks, alerts to tell them when they are pre-approved to borrow money, and actionable tips to support more informed and responsible financial decision making.

The initial months of the COVID-19 pandemic saw millions of people across the UK impacted financially, and this is something that remains an issue a year on. Despite the recent easing of lockdown restrictions, many are continuing to experience financial strain and uncertainty. In a recent survey, the ONS found that those that were the most financially impacted at the start of the pandemic - the self-employed, parents, young people and those living on the lowest household incomes - were still worse off in mid-April 2021. With its focus on providing clear, actionable support, the Stability Hub can help to guide these people towards a more financially stable future.

Stability Hub members receive a monthly financial health check and a personalised Stability Score which acts as a measure of an individual’s ability to withstand a financial shock and indicates eligibility for borrowing. Updated monthly, the Stability Score is accompanied by tailored guidance to help members take action to improve their scores, increase their creditworthiness and become more financially stable. Since the start of COVID, almost half (47%) of Stability Hub members have seen their scores increase, and in a recent survey, 90% of members said that Creditspring has helped them improve their financial stability, and eight in ten said it helped improve their creditworthiness.

Neil Kadagathur, Co-Founder and CEO of Creditspring, comments: “The financial impact of the pandemic is still being felt acutely by people across the country and they are in desperate need of support even as restrictions begin to lift. Our goal is to help people improve their financial health and prevent those who could easily fall into a cycle of expensive debt from falling prey to unscrupulous lenders. Our Stability Hub gives these people personalised guidance to regain control over their finances and helps work towards being able to access more affordable forms of credit.

“Unlike high-cost lenders that lure borrowers into a spiral of long-term debt, much like the dating app, Hinge, our job is done when our customers don’t need us anymore. We want to educate our members and be their guide and ally, helping them work towards a more financially stable, resilient and independent future.”

Lindsey Appleyard, Academic and CEO of Responsible Finance, comments: “With the events of the past year pushing many people into economic instability, there is an urgent need for highly-accessible, affordable financial products that support the overall financial wellbeing of consumers. Creditspring’s Stability Hub is a prime example of a product that does exactly this. It rightfully puts its users in full control of their finances and arms them with the information needed to help them make decisions that will fuel a brighter financial future”.

The Stability Hub has already attracted almost 30,000 registered members in the UK so far. Through the guidance given, one in five become eligible for Creditspring’s affordable credit services each month, saving them from turning to higher cost options such as payday loans. By the end of 2021, Creditspring, expects to have reached over 100,000 Stability Hub members.

Alongside educational tools, Creditspring provides affordable, easy-to-use loans for short term credit to help the UK’s 12-15 million ‘near-prime’ borrowers whose credit files are thin, making it harder for them to access mainstream credit products. Members have access to two loans per year, with clear repayment plans, capped costs and no hidden charges or confusing Annual Percentage Rates (APRs).

Commerzbank supports its customers affected by the flood disaster with a special quota of over 200 million euros. A special interest rate of 0.01 percent pa is granted for this.
 
“It is important to us to help the affected people quickly and unbureaucratically. We are making available 200 million euros for the reconstruction of destroyed houses and infrastructures as well as for bridging liquidity bottlenecks. We can only master this enormous challenge together, ”said Manfred Knof, CEO of Commerzbank.
 
This is how the help for private customers looks like:
Commerzbank is available to its private customers with an almost interest-free loan and up to 50,000 euros each. The term is up to 84 months. The repayment is made in installments. In addition, free special repayments are possible at any time.
 
This is how the help for business customers looks like:
The offer for business customers and self-employed customers includes a loan with a term of a maximum of three years and a volume of up to 150,000 euros each. Entrepreneurs who take advantage of the offer can suspend repayment in the first year of the contract period. They also have the right to make free special repayments at any time. In addition, the consultants support you in applying for the funding programs of the federal and state development banks.
 
This is what the help for corporate customers looks like:
Commerzbank is also at the side of affected corporate customers in this extraordinary situation and works with customers to find individual solutions for any liquidity bottlenecks or to finance the reconstruction.
 
Affected customers can contact their advisor directly. The loan is made available after the legally required credit check. In response to the catastrophe, Commerzbank made a donation of 100,000 euros to the “Aktion Deutschland Hilft” initiative.