Hamburg-based FinTech company continues the rollout of its open architecture

With FFB, Deposit Solutions wins another client bank

Hamburg, June 13, 2016 – The specialised German bank fund, FFB, will use Deposit Solutions’ open architecture platform for retail deposits. From September on, FFB will therefore be offering attractive fixed-term deposits from German and European banks to its customers and financial consultants. This cooperation represents another step forward for Deposit Solutions and the rollout of its open architecture, which is unique in the banking industry. Just recently, Deutsche Bank announced that it will integrate the open architecture into its own private customer platform.

Deposit Solutions is operating the first open architecture for overnight and fixed deposits in Europe. Through the platform, product banks can make their saving offers available to other banks, who can in turn market these offers to their own customers. For client banks, this is a great opportunity to significantly increase the number of deposit offers available to their customers.

As part of the cooperation, FFB will use a white label solution and integrate the open architecture platform to maximise user friendliness: The fixed deposit products will be incorporated in an account along with the managed funds while the transaction takes place easily and conveniently for the customer via their regular bank account. Completing savings deposit transactions is therefore as simple and uncomplicated as a bond or fund purchase. In addition, there is no requirement to open multiple accounts and repeat the PostIdent process with different banks.

FFB is delivering savers a service from a single source, with interest conditions that are significantly better than the rates customers would obtain from their regular bank. From the pool of overnight and fixed deposits available, FFB initially intends to integrate a selection of fixedterm deposits with maturities up to 12 months into its online banking. “With our deposit and account solutions we wish to continue setting industry standards for our commercial partners and customers. With Deposit Solutions’ tailored approach we are now able to include fixed-term deposits into our portfolio. This way, our advisers gain access to investment products that were previously not available”, explains Peter Nonner, Managing Director of FFB.

Dr. Tim Sievers, Founder and Managing Director of Deposit Solutions, adds: “Client banks must become more agile in order to offer their customers an attractive product portfolio and control their liquidity in a flexible way. Our open architecture allows banks to offer their customers market-leading interest rates on overnight and fixed deposits, without having to bear the interest burden for this. This increases customer loyalty and also provides the bank with an opportunity to transfer excess liquidity to third-party banks. Furthermore, banks that list their overnight and fixed deposits on our platform gain access to a cost-efficient financing source, without needing to set up and operate a costly retail infrastructure.”

The technology behind Deposit Solutions’ open architecture has long withstood trials and is already being used by renowned banks. This open architecture can be integrated into the platform of any bank and can be incorporated as a white label solution or as a partner service. Thanks to the user-friendly single account solution, customers can easily access to the listed offers using a single clearing account.

About Deposit Solutions

Deposit Solutions is an innovative FinTech company operating the first open architecture platform for retail savings deposits in Europe. Since 2011, the Hamburg-based company has already mediated deposits in excess of 1 billion Euros in different b2b applications. Its proprietary technology allows banks seeking retail funding to list their savings offers on an open architecture platform. Other banks on the platform can market those offers directly to their own clients who can access them without having to open a new account at another bank. In addition, Deposit Solutions operates its own retail brand ZINSPILOT which markets selected deposit offers of its partners directly to savers.

In April 2016, Deutsche Bank announced that it will make the open architecture available to its own customers. Furthermore, Deposit Solutions was recently able to announce the integration of the broker pool Jung, DMS & Cie., and Germany’s leading online broker flatex.

Media contact:

Neele Wulff

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