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FinTech Group Bank AG started its business on 1 December 2005 under the name biw Bank für Investments und Wertpapiere AG (biw AG) with the granting of a banking license by the Federal Financial Supervisory Authority (BaFin). The Bank’s headquarters were then located in the historic Haus Broich in Willich.
In order to expand its business, the Bank opened two additional offices in Zwickau and Andernach in September 2007. In April 2009, FIB Management AG opened a representative office of biw AG in Frankfurt am Main in connection with BankM. On 1 April 2010, the Viennese branch of biw AG was inaugurated.
On 1 January 2012, XCOM Finanz GmbH acquired 100 percent of the shares of biw AG and fully integrated the Bank into XCOM AG.
At the end of 2013, biw AG, together with its sister company ViTrade GmbH, developed its own online banking service "brokerport".
In March 2015, FinTech Group AG acquired the majority stake in XCOM AG, and thus in biw AG as well as in ViTrade GmbH.
In 2016 the headquarters was moved to the banking center of Frankfurt am Main. As of 15 June 2017, biw AG has been renamed FinTech Group Bank AG.
Since its incorporation, the Bank has been profitable and has been growing constantly for years. As of, FinTech Group Bank AG had approximately 194,000 customers, 246,000 accounts and EUR 9.4 billion of assets under management, and its equity capital was valued at around EUR 35 million. At the end of 2015, FinTech Group Bank AG employed about 120 employees at its four locations in Germany and in Vienna.
By virtue of our technological infrastructure we provide our customers a high degree of flexibility on the way to implement their business ideas. Our digital background processes are lean and come with a low cost base. They can be fully integrated. This is how we offer our customers attractive and unique one-stop solutions with the highest possible degree of automatization.Bernd Würfel, boardmember of Bank biw AG
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