German bank N26 is partnering with financial software firm Eurobase International for its treasury management operations, BobsGuide reported on Monday (Nov. 25).
Headquartered in Berlin, N26 will use the Eurobase Siena platform to support its treasury management operations throughout most of the Eurozone, U.K., Switzerland and the U.S. N26 serves over 3.5 million customers across 25 European markets and the U.S.
“Eurobase is pleased to have been selected by N26. Siena will support the bank’s continued commitment to its customers and will enable increased visibility and management of its exposure and risk,” Eurobase CEO Joe Locke said in the report. “We look forward to delivering a successful implementation and building a long-term partnership with the bank.”
Eurobase has been providing treasury management, trading and sales solutions to businesses for over 30 years. Valentin Stalf and Maximilian Tayenthal founded N26 in 2013 and launched the initial product in early 2015. The digital bank has raised more than $670 million from established investors, including Insight Venture Partners, GIC and Tencent.
“We are delighted to announce our partnership with Eurobase, one of the most trusted and reliable treasury management software providers in the market. As we continuously invest in the management of our treasury operations and mitigation of financial and reputational risk, this platform will further enable us to underpin our bank treasury activities,” said Richard Groeneveld, chief financial and risk officer at N26.
In July, N26 launched in the U.S. with a staged rollout inviting over 100,000 customers. The company is a U.S. subsidiary of N26 GmbH, which was described in an announcement as one of the fastest-growing mobile banks in Europe.
N26 Inc. U.S. CEO Nicolas Kopp said in the announcement, “We’re very excited to bring our experience to U.S. customers. In Europe, we’re loved for our effortless and sleek user experience, with no hidden fees. Starting today, you can sign up entirely from your phone in just five minutes. There are no account maintenance fees or minimum balances required.”