Berenberg joins BIS.on WMS platform targeting savings banks

The partnership underscores the ongoing collaboration between banks and fintech companies

by | August 10, 2022 | bobsguide

German private bank Berenberg has teamed up with fintech group Dericon to make the bank’s financial products available on the latter’s savings bank platform BIS.on WMS.

According to Guido Hansmeyer, head of wholesale/third-party business Germany, the bank will link its range of funds to the platform, making it available to savings banks using BIS.on WMS.

The collaboration will expand Berenberg’s exposure to savings banks looking to utilise the firm’s asset management funds services.

“Berenberg has been an established partner for savings banks in asset management and for asset management investment funds for almost 20 years. More than 100 savings banks use our services.,” said Lorenz Behnke, head of cooperation partner business at Berenberg.

“With BIS.on WMS, we are opening up our offer to a wider circle of houses and their customers, who can thus benefit from Berenberg’s expertise.”

BIS.on WMS is a securities management platform developed by Dericon for Nord/LB. The platform gives savings banks access to more than 1.5 million financial products from the network and third-party providers whilst providing them with the necessary technical support.

The platform also provides necessary information from a single source, risk monitoring and independent research to its customers.

BIS.on WMS gains popularity

Berenberg is the latest financial institution to select BIS.on WMS platform to serve the savings bank sector.

Since the launch of the platform in 2021, BIS.on WMS has won the custom of over 100 customers in the savings bank sector, reaching the feat in just 15 months.

Only last week, capital management company Axxion also joined BIS.on WMS platform to offer its digital solutions via the savings banks.

Asset managers Bellevue and Flossbach are among the recent firms that have partnered with Dericon to offer their products via the BIS.on WMS platform.

Banks leverage fintech partnerships

The collaboration between financial firms and fintech companies has been one of the most popular ways for the duo to reach customers in the digital age.

According to a 2021 study (focusing on the Netherlands) by EY and Rabobank, fintech companies see partnerships with financial firms as the second greatest opportunity after international expansion.

EY also pointed out that the high acquisition cost per customer has led the fintech companies to favour B2B2C relationships or focus on business services.

In the UK, a 2021 study by Lloyds also revealed an increasing focus on partnerships between financial firms and the fintech groups. The report stated that 46% of financial firms plan to grow investment in their fintech capability through acquisition and partnering.

In line with the study, collaboration has been rife in both Europe and North America.

In June, UBS partnered with Swiss legal information products marketplace, Partnervine, to make its regulatory knowledge available via the latter’s platform.

In July, Deutsche Bank selected wealth tech company Abbove’s wealth planning platform to offer clients wealth management services in Belgium.

Outside of Europe, Santander Bank, N.A. selected mortgage lender Rocket Mortgage earlier this month as the exclusive preferred mortgage provider for the bank’s customers.

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