Moss and Deutsche Bank Partner on Payments via Expense Management Platform

Moss has partnered with Deutsche Bank to facilitate payments through the Moss expense management platform.

This partnership will streamline customers’ experiences in topping up and withdrawing funds, and enable them to do so 24/7, the companies said in a press release.

Beginning in the third quarter, the expense management software company’s EU Debit customers will be migrated to Deutsche Bank, according to the release.

“Deutsche Bank will handle the receipt, custody and shipping of all funds for Moss,” Moss Chief Operating Officer and Co-founder Stephan Haslebacher said in the release. “As the first new change, our European customers will receive German IBANs [International Bank Account Numbers] as requested.”

Deutsche Bank Head of Merchant Solutions Kilian Thalhammer said in the release that the bank aims to help Moss grow in Germany and expand to other markets.

“The partnership is a good example of how Deutsche Bank supports innovative business models in the FinTech industry with global financial services,” Thalhammer said in the release.

The goal of the Moss expense management platform is to help customers have better oversight and make better decisions in their spending, such as giving customers an estimate on where they stand in their spending if they run transactions for a specific budget on Moss cards, Moss CEO and Co-founder Ante Spittler told PYMNTS in an interview posted in February 2022.

By bundling together solutions and offering smart all-in-one packages, Moss aims to positively disrupt the way small and medium-sized businesses (SMBs) work, Spittler said at the time.

“Moss doesn’t solve all their problems. It’s a toolkit, an enabler with which they can just become better versions of themselves,” Spittler said. “And I think every minute that we can save, every better decision we can help customers come out with sort of plays into that field.”

Treasury departments around the world are focusing on new rails that enable real-time payments and on real-time processes that provide chief financial officers (CFOs) with richer, more up-to-date data, Deutsche Bank Global Head of Cash Management Ole Matthiessen told PYMNTS in an interview posted in November 2022.

“The treasury function has definitely increased in importance, and has definitely been enhanced in terms of the versatility that needs to be looked into,” Matthiessen said at the time.