30 March 2021
German bank LBBW announces cooperation with TreasurUp for online FX hedging services
TreasurUp has signed a cooperation agreement with Landesbank Baden-Württemberg. The aim is to introduce a digital solution for foreign exchange risk management, especially targeted at small and medium-sized corporate customers. LBBW will make this online hedging service available to both corporate customers of the Sparkassen-Finanzgruppe as well as its own customers.
“With TreasurUp as a partner, we are taking another big step in expanding the range of digital services for customers of the savings banks and our own customers,” says LBBW Board Member responsible for capital markets business, Dr. Christian Ricken. “Flexible, easily accessible solutions are more important than ever for our competitiveness – precisely because more and more people are working on the move. With the TreasurUp solutions, we are going to benefit from latest technology.” adds Christian Sagerer, Head of the Financial Institutions & Corporates division at LBBW.
LBBW is one of the largest providers in Germany in this business area. Last year LBBW has expanded its strong position within the savings banks by taking over the interest rate, foreign exchange and commodities risk management business from BayernLB.