- Banking & Digital Solutions segment to expand its product portfolio
- Lars Ernst, Managing Director, Banking & Digital Solutions: “CollectAI supplements the existing offers of our AEPP payments platform. On top of this, it provides us with the opportunity of exploring new markets and client groups.”
Wiesbaden, 24 March 2022 – Aareal Bank Group has acquired all shares in Collect Artificial Intelligence GmbH (“CollectAI”), a payment solutions provider offering AI-based intelligent invoicing and dunning processes, from Otto Group. With this acquisition, Aareal Bank Group is expanding its range of products and services in the Banking & Digital Solutions segment, adding end-customer communications functionality as well as AI-based solutions for interactive invoices and intelligent dunning processes.
“CollectAI supplements the existing offers of our AEPP payments platform. On top of this, it provides us with the opportunity of exploring new markets and client groups, and for further growth with existing clients from the housing sector and related industries”, said Lars Ernst, Managing Director, Banking & Digital Solutions at Aareal Bank AG.
With its AI-based software, CollectAI already holds a strong position in the online trading, energy utility as well as bank and insurance sectors. CollectAI helps its customers to lower process costs whilst enhancing success rates in the dunning process. For instance, within the framework of an exclusive partnership with Payment Entwicklungsgesellschaft of Otto Group (PEG), Otto Group’s payments development entity, the Hamburg-based Fintech will take over payments-related communications with end customers of the Otto Marketplace for the e-commerce platform’s 2,500 partners. CollectAI provides end-customers with an easy-to-use digital payment experience.
This service offer is also highly attractive for Aareal Bank’s existing clients, including those from the housing industry. Moreover, CollectAI’s strong position opens up further potential for cooperation with related industries, also on an international scale.
The acquisition of CollectAI shows that the “Aareal Next Level” strategy programme is being consistently implemented in the Banking & Digital Solutions segment, supporting the Group’s growth plans in its core payment services offering as well as higher non-interest-related commission income.
The parties have agreed not to disclose the terms of the acquisition.
For further details on the product range of the Banking & Digital Solutions segment, please refer to: https://www.aareal-bank.com/en/products-consulting-and-solutions