Riverty officially opens new bank in Luxembourg

Riverty has officially opened Riverty Bank S.A. in Luxembourg, marking an important milestone in the fintech company's growth strategy and creating the platform to further expand its payments and consumer finance offering across Europe.

The bank was officially opened at a ceremony in Luxembourg attended by Gilles Roth, Luxembourg's Minister of Finance, Claude Marx, CSSF Director General, Thomas Rabe Bertelsmann Chairman and CEO, Carsten Coesfeld, Bertelsmann Executive Board member responsible for Riverty, Andreas Barth, Riverty CEO and Oliver Kuhaupt, Riverty Bank CEO, alongside representatives from business, finance and the Luxembourg ecosystem.

The opening also marks the start of the bank's next phase under the leadership of Oliver Kuhaupt, who has been appointed CEO of Riverty Bank S.A. and Board Representative of Riverty Group, and Marc Pittig, who has been appointed Chief Financial Officer (CFO) of Riverty Bank. As CEO, Oliver Kuhaupt assumes overall responsibility for the bank's strategy execution, business operations and market development. In his role as Chief Banking Officer, he represents the bank and its strategic development within the broader Riverty organisation. As CFO, Marc Pittig is responsible for the bank's financial management, regulatory compliance and risk management, helping build a strong financial foundation for Riverty Bank's long-term growth.

Setting Riverty Bank up for growth

Riverty Bank builds on an established European payments business. Riverty today works with more than 1,800 merchants and 25 million consumers across 10 European countries, processing more than €10 billion in transaction volume annually.

The new bank provides the platform for Riverty to further develop its consumer finance capabilities and bring payments and credit together into an integrated proposition for merchants and their customers.

Under the ambition "Designed for merchant growth," Riverty is building a financial powerhouse that enables merchants to seamlessly integrate payments and consumer finance into their customer proposition. By combining regulated banking capabilities with embedded finance solutions, Riverty helps merchants grow sustainably, strengthen customer relationships and create better purchasing experiences across Europe.

Andreas Barth, CEO of Riverty, said:

"The opening of Riverty Bank is an important milestone for the Riverty Group and gives us a strong foundation for our next phase of growth. By bringing payments and consumer finance closer together, we can create greater value for our merchants and their customers across Europe.

Oliver has played a central role in building Riverty Bank and is the right person to lead it as CEO. Together with Marc Pittig as CFO and an outstanding leadership team, we have built a strong foundation for the bank's next chapter. The banking licence is an important enabler, but what matters most is what it allows us to do for our merchants—help them grow through trusted, innovative financial solutions."

Oliver Kuhaupt, CEO of Riverty Bank and Chief Banking Officer of Riverty, said:

"Our strategy can be summed up in four words: Designed for merchant growth. Everything we build starts with the needs of our merchants. Our ambition is to build a bank that enables our business partners to seamlessly integrate payments and consumer finance into their value creation, helping them forge better customer experiences and grow their businesses sustainably.

Establishing Riverty Bank in Luxembourg has been an extraordinary journey. We have found a strong financial ecosystem, deep banking expertise and a network of partners that provides an excellent foundation from which to grow."

A new chapter in Luxembourg

Luxembourg provides Riverty Bank with access to a well-established financial ecosystem, deep banking expertise, a strong talent pool and a network of potential partners. These were among the factors highlighted by Riverty in establishing the bank in Luxembourg.

The opening ceremony reflected both Riverty's ambitions for the bank and the wider relationship between Bertelsmann and Luxembourg, with speakers addressing the role of fintech, the development of Riverty Bank and Luxembourg's position as a leading European financial centre.

Gilles Roth, Finance Minister Luxembourg said:

“Riverty Bank’s decision to establish itself in Luxembourg is a vote of confidence in our financial centre and in Luxembourg as a base for European business.”

The ceremony concluded with the official ribbon cutting by Gilles Roth, Finance Minister Luxembourg, Claude Marx, Director General CSSF, Thomas Rabe CEO Bertelsmann, Carsten Coesfeld Executive Board Member Bertelsmann, Andreas Barth CEO Riverty Group, Oliver Kuhaupt CEO Riverty Bank & Marc Pittig CFO Riverty Bank formally marking the opening of Riverty Bank in Luxembourg.

About Riverty Group

Riverty is a driving force in the fintech sector and operates in 10 European countries. With more than 4,000 employees, the Bertelsmann Group company offers payment, collection and factoring solutions that support businesses and consumers in managing financial processes and cash flows. The company brings more than 60 years of financial services experience, dating back to 1960.