The Hamburg-based Deposit Solutions, which operates the Zinspilot investment platform, has taken over Berlin’s Savedo for an undisclosed sum, a press release said Monday (August 14, 2017). The take-over of Savedo will allow Deposit Solutions to increase its activities in the B2C sector. The open banking solutions for overnight and fixed deposits offered by Deposit Solutions has already helped the fintech secure partners such as Deutsche Bank or FFB, the German subsidiary of Fidelity. Deposit Solutions has made its technology available under Zinspilot since September 2015 and to savers whose banks have not yet set up open banking platforms.
Two new foreign markets
Dr. Tim Sievers, founder and Managing Director of Deposit Solutions, said: “We are gaining a strong B2C in Savedo that brings along international competence, technological know-how and a high client focus.” Savedo has over 18,000 registered investors, 13 partner banks and deals in both Austria and the Netherlands.
New marketing opportunities
Christian Tiessen, founder and Managing Director of Savedo, said: “The open banking platform and the120-strong team at Deposit Solutions will help us create significant added value for our clients and partner banks.” Customers gain access to a large selection of additional products. Savedo’s partner banks can also expect new ways of marketing their deposits.
Tiessen will also be responsible for internationalising the B2C sector at Deposit Solutions. Savedo GmbH will continue to operate from Berlin.
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