Magnetiq Bank Becomes Strategic Partner with German Fintech Vexcash

Magnetiq Bank, a specialist in serving fintech companies, has launched a partnership with one of Germany’s leading consumer loan intermediaries, Vexcash. Based in Berlin and operating since 2011, Vexcash has issued more than 400,000 loans to date. The Bank provides its partner with comprehensive API solutions, as well as full technical loan processing and issuance.

The partnership is built on Magnetiq Bank’s proprietary Lending-as-a-Service (LaaS) model. This model enables fintech companies to seamlessly integrate banking services into their products, significantly reducing the administrative and regulatory burden.

“We are delighted to become a strategic partner for Vexcash and to support their growth in the German market,” says Jakub Wieclaw, Chairman of the Board at Magnetiq Bank. “Our goal is to break down the barriers between the traditional banking sector and digital innovation by offering ready-made solutions that operate in the background, allowing our partners to focus on serving their customers. The partnership with Vexcash underscores Magnetiq Bank’s capability to provide high-quality banking infrastructure through our banking license and modern API platform.”

“We are pleased to partner with Magnetiq Bank. This strategic collaboration brings together robust banking infrastructure and Vexcash’s customer-centric digital experience, enabling us to deliver more accessible and efficient credit solutions. By combining our strengths, we aim to continuously enhance the customer journey and provide greater value to our users,” says Azamat Kaptagayev, Management Board Member of Vexcash AG.

The partnership enables seamless integration of all processes, with Magnetiq Bank managing the entire loan lifecycle. Using the bank’s API infrastructure, loan applications are processed largely automatically, allowing applications to be reviewed efficiently and decisions to be made in real time. Integrated payment solutions enable funds to be disbursed to customers’ accounts promptly after approval.

In addition to technical support, Magnetiq Bank guarantees full regulatory compliance. All activities are conducted in accordance with the Bank’s license and European Union standards, including full management of Know Your Customer (KYC) and Anti-Money Laundering (AML) processes. This ensures the highest level of security for both the partner and the end consumer in Germany.

About Magnetiq Bank

AS Magnetiq Bank is a Latvia-licensed bank with a strategy focused on the needs of fintech, startups, and e-commerce service providers. The Bank offers banking infrastructure, safeguarding accounts, payment solutions, and lending services. Magnetiq Bank’s mission is to foster the growth of the startup and e-commerce sectors by leveraging innovative technologies and delivering exceptional customer service.

Magnetiq Bank is a member of the Signet Bank Group. Its sole shareholder – Signet Bank Group – is one of Latvia’s leading financial services groups, providing lending, investment banking, asset management, and consumer finance, as well as traditional banking services.

About Vexcash

Vexcash AG is a fintech company founded in Berlin in 2011 and is one of Germany’s leading consumer loan intermediaries. The company specializes in providing short-term loans and innovative digital credit solutions, focusing on maximum processing speed and user convenience. Since its inception, Vexcash has served hundreds of thousands of customers, issuing more than 400,000 loans to date. The company is recognized as a pioneer in the German market, being one of the first to introduce a fully digital application process that ensures same-day credit disbursement.