FinTech firm sets the standard for new partner banks

New at ZINSPILOT: Fixed-term deposit products from British Bank Close Brothers

Hamburg, March 13, 2016 – ZINSPILOT is expanding its product range to include an established FTSE 250 British bank, Close Brothers Limited. This enhances the reputation of Zinspilot as an innovative provider of secure fixed-term products with attractive interest rates.

Providing better interest rates, and safe for investors, the service ZINSPILOT is online with two new offers: German savers can now securely invest in the UK, at 1.35 % p.a. on 3-year fixed deposits and 1.25 % p.a. for 18-month fixed deposits. The new products come from British bank Close Brothers Limited, credit rated by Fitch and Moody’s as ‘A’ and ‘Aa3’ respectively.

Including the two new products, ZINSPILOT customers can now choose between 18 offers from five banks, with eight different maturities; with more products to be added soon. The Hamburg FinTech firm offers savers various day and fixed-term deposits at home and abroad, all through a single account. This makes saving easier for the savvy savings customer, who no longer needs to repeatedly open new accounts with different banks to access better rates.

Dr. Tim Sievers, founder and CEO of ZINSPILOT, says: “The current low-interest offers of most German retail banks are increasingly driving savers to look for more attractive opportunities at home and abroad. Investors nevertheless have to be vigilant about the security of these products. With savings deposits perhaps above all, willingness to speculate is close to zero. Our new partner, the British firm Close Brothers, presents a solid bank balance sheet and a proven deposit guarantee scheme, all from a country with an S&P ‘AAA’ rating.”

Binding, transparent listing criteria set industry standards

Currently, ZINSPILOT only lists banks from countries with a credit rating of ‘A’ (A2) or higher from one of the three main rating agencies. These include Germany, Austria, the UK and Malta. ZINSPILOT is also currently negotiating with potential new bank partners, all of which come from countries with at least an ‘A’ rating.

ZINSPILOT has a stringent code for selecting partner banks and is committed to compliance with mandatory credit criteria. ZINSPILOT’s main focus is banks from nations with ‘A’ (A2) or better ratings. In addition, banks may be listed with ratings between A- (A3) and BB+ (Ba1). The new code prohibits inclusion of banks from countries that do not have at least a ‘BB+’ (Ba1) rating from all major rating agencies. This currently accounts for European banks from Greece, Croatia and Cyprus. ZINSPILOT also supports investors by being transparent about their investment decision and providing detailed information about differences in the credit ratings of the countries. “Long-term, we want to offer our investors a variety of interest rate products from different countries. We deliberately don’t offer speculative products we no longer consider to be safe overnight and fixedterm deposits due to their risk profile. Ultimately, a savings deposit is only as safe as the deposit guarantee of the bank’s home country”, says Sievers.

Close Brothers: a new partner with top ratings

Our new partner Close Brothers Limited comfortably meets the high creditworthiness standards required by ZINSPILOT. S&P rates the UK with its highest grade, ‘AAA’. Close Brothers Limited itself has convincing Fitch and Moody’s credit ratings of ‘A’ and ‘Aa3’. With more than 2,900 employees, the parent company Close Brothers Group plc, is Great Britain’s largest independent commercial bank and one of the 200 best-performing companies in the country. It operates in the areas of lending, securities trading, financial advisory and asset consulting. Trading through Close Brothers Factoring GmbH, the bank is also active in Germany, offering financing solutions to German SMEs.

Close Brothers comes under the supervision of the British Prudential Regulation Authority and Financial Conduct Authority. Deposits with the bank are covered by the “United Kingdom Financial Services Compensation Scheme” (FSCS). All deposits placed via ZINSPILOT are made in euros and backed up to an amount of 75,000 GBP by the FSCS.

ZINSPILOT: an account solution for overnight and fixed-term deposits

ZINSPILOT’s open investment architecture means particular flexibility for savers: investors open an account at a ZINSPILOT partner bank in Germany, which as fiduciary carries out all investments to their instructions. The investor proper remains a customer of the German partner bank. Investments are made directly by bank transfer, from the saver’s own current account to the partner bank. All investments can start from the current account and also flow back there. “Our platform lets savers constantly find better interest rates – without paperwork and opening countless irritating bank accounts. ZINSPILOT is the first and only one-account solution, and offers the utmost convenience for savers,” Sievers adds.

ZINSPILOT also creates benefits for banks. The portal is a division of Deposit Solutions, who with their technical infrastructure have made open architecture for savings deposits possible for the first time. Retail banks can integrate ZINSPILOT very easily into their own product range. In the process, their customers gain access to market-leading interest deals, thus protecting exclusive customer relationships and avoiding costly excess liquidity.


ZINSPILOT is the one-account solution for German savers. Investor service ZINSPILOT is a division of Deposit Solutions GmbH. The FinTech company is headquartered in Hamburg and offers the first open architecture for overnight and term deposits in Europe. Since 2011, specialist B2B applications from Deposit Solutions have handled savings and term deposits worth in excess of 1 billion euros. The technology is unique in the European market, and allows banks to solicit deposits from private customers, offer its savings products on the open architecture platform, and make them available for other banks to sell. The particular innovation is that customers no longer need to open bank accounts at multiple banks, as they can now manage their investments – like shares – from a single account at their bank. In addition, overnight and term deposit rates of partner banks have been marketed directly to savers since 2014, via subsidiary retail service ZINSPILOT. Banks can connect directly to the ZINSPILOT service platform or use white-label applications to integrate the openarchitecture solution into their retail offering.

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