German bank LBBW announces cooperation with TreasurUp for online FX hedging services (March 2021)

TreasurUp has signed a cooperation agreement with Landesbank Baden-Württemberg (LBBW). 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.

Full press release on LBBW website.

About LBBW and TreasurUp

About LBBW

LBBW is a medium-sized universal bank and the central institute of the savings banks in Baden-Württemberg, Saxony and Rhineland-Palatinate. With total assets of EUR 276 billion and 10,000 employees (as of December 31, 2020), LBBW is one of the largest banks in Germany.

Core activities are corporate customer business, especially with medium-sized companies, and business with private customers and with the savings banks. Another focus is on real estate and project financing in selected markets as well as customer-oriented capital market business with banks, savings banks and institutional investors.

About TreasurUp

We are a Dutch Fintech company that provides commercial banks around the world with online solutions for their SME clients in the areas of Risk Management (FX, Commodities and Trade Credit Insurance), Cash Visibility & Forecasting, Supply Chain Finance and Trade Finance.

Everything is based on integrated journeys and offered white labeled to banks via web and/or mobile and open banking and API services are at the core of our platform. The aim is to have the bank stand out in their market through innovative solutions, managed cloud services and bank- & corporate treasury expertise.

TreasurUp truly believes in a bank & fintech partnership model and is proud to have clients like Nordea, Société Générale, Rabobank, KBC, OP bank and LBBW.