Deutsche Bank buys 4.9% stake in open banking fintech Deposit Solutions

https://www.mobilepaymentstoday.com/news/deutsche-bank-buys-49-stake-in-open-banking-fintech-deposit-solutions/
http://nmgprod.s3.amazonaws.com/media/filer_public_thumbnails/filer_public/ff/a4/ffa4f5cf-b108-44a9-a3b9-54409ebf370c/istock-511794570.jpg__300x170_q85_crop_subsampling-2.jpg?#

Deutsche Bank buys 4.9% stake in open banking fintech Deposit Solutions

Deutsche Bank said it acquired a 4.9% stake in German-based fintech Deposit Solutions, according to announcements from both companies. 

The Hamburg, Germany-based fintech provides open banking technology that allows more than 100 banks across 18 countries to offer their customers products from third-party banks or source deposits for their balance sheets. 

Deutsche Bank has an existing relationship with Deposit Solutions, providing a savings product called Zinzmarkt to its customers since 2017. The service, based on Deposit Solutions Zinzpilot technology, allows Deutsche Bank customers to access fixed-term deposit products from third-party banks that pay higher interest. 

“We have been in investing in our capabilities to operate as a digital platform for a considerable length of time,” Karl van Rohr, president of Deutsche Bank, said in a company release. “In the digital age the only players that will maintain client contact are those who can offer the best products, even if they are provided by third-party vendors.”

Zinsmarkt currently offers 23 different fixed-term deposit products from three different banks. 

Cover image: iStock


Topics: Mergers & Acquisitions, Mobile Banking, Region: EMEA, Venture Capital


Sponsored Links:


Related Content


Latest Content

https://www.mobilepaymentstoday.com/news/deutsche-bank-buys-49-stake-in-open-banking-fintech-deposit-solutions/