Verimi and Yes could merge
According to media reports, the two companies are negotiating a merger. Both start-ups are backed by major banks.
The two identity start-ups Verimi and Yes could merge in the future, according to Finance Forward reports. The outcome of the deliberations is therefore a possible withdrawal of the savings bank from Yes.
The savings banks had bought into the start-up Yes together with the Volksbanken and Raiffeisenbanken. However, the operational development of Yes was apparently not satisfactory. The investment was also controversial within the savings banks, reports Finance Forward. There were also technical problems with the application, which contributed to the dissatisfaction. The committees of the German Savings Banks and Giro Association (DSGV) are now discussing a possible exit from Yes.
One possible solution could be a merger with the start-up Verimi, in which Deutsche Bank, Allianz and VW Financial Services are involved. However, the company has been criticized for an unreported data leak and allegations of manipulation.
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