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flatex 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 March 2019, FinTech Group Bank AG has been renamed flatex Bank AG.
Since its incorporation, the Bank has been profitable and has been growing constantly for years. As of, flatex 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 41,4 million. At the end of 2015, flatex Bank AG employed about 120 employees at its four locations in Germany and in Vienna.
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