In 2014, the Volks- und Raiffeisenbanken (German cooperative banks), Commerzbank, Deutsche Bank, Postbank, and others joined forces to offer a new banking standard for payments on the Internet by founding paydirekt GmbH. Senacor Technologies AG, now one of the fastest-growing IT service providers in the DACH region (Germany, Austria, and Switzerland), was commissioned to develop the payment service. Senacor was soon faced with the question of how paydirekt would be operated. The company needed to find a service provider that could meet the special requirements presented by a banking application.