Wirecard's CEO Says He Wants to Partner Banks, Not Bury Them
- CEO Braun sees further partnerships with banks, insurers
- Says market still doesn’t fully understand growth potential
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Wirecard AG may have just ousted Commerzbank AG from Germany’s main stock index, but the fintech says it wants to work with traditional banks, not destroy them.
Chief Executive Officer Markus Braun is seeking to partner with more lenders, after alliances with Credit Agricole SA and Mizuho Bank Ltd. helped him lift his profit forecasts last month. He wants to expand by offering them the chance to grant loans via Wirecard and use the company’s data on its clients, where possible, to make them more regular and loyal customers.