Penta, a Berlin-based fintech organisation has launched ‘Compass’ that will help businesses and startups in Germany to enhance banking experiences.
Compass helps businesses in Germany open bank accounts in less than 24 hours, slashing the overall integration process by several weeks. Penta said that their process consumes merely 15 minutes of the founders’ time. The service comes at free of cost.
Talking about Compass and digitisation, CEO of Penta, Lav Odorovic, said: “With Compass and our digitized ‘In Grundung’ bank account, we have shortened the incorporation process already by half. Compass by Penta will help founders focus on starting their business even sooner now.”
“In an increasingly globalized world Germany is competing with other EU countries to attract business. Considering so many startups and businesses are coming to Germany post-Brexit and because of the technology revolution, something should be done so that Germany can facilitate an easier way to start a business,” Odorovic added, “Facilitating bank account opening for business in foundation is our first step out of many to help German businesses start a business online in minutes.”