Rietumu Bank is the first bank in Latvia to launch such FinTech project.
Regarding to cooperation with ZINSPILOT Rietumu Bank receives cost effective access to the € 2,000 billion German savings market – the largest in Europe.
By using a modern B2C (Business-to-Consumer) platform, funds of clients of German banks are sent for placing on deposits in banks of different EU countries. This way, clients can place their funds under the most attractive interest rates maximally reliably - all such placements are covered by the uniform European guarantees for safety of deposits.
Alexander Voloshin, member of the Board of Rietumu Bank: “The project with ZINSPILOT is a perfect example which shows advantages given to traditional banking services by new technologies. Regarding to this kind of cooperation, European banking customers get new, much wider opportunities to receive safe and considerable income on their assets. At the same time it allows banks to develop their networking and get new sustainable finance resourses”.
The unique ZINSPILOT service now makes the deposit products of Rietumu Bank widely available to German savers and will list the products on more than 1,000 websites in Germany.
Andreas Wiethцlter, managing director of ZINSPILOT: “The German deposit market is struggling with a huge surplus of deposit volume seeking for positive interest rates in a negative interest rate environment. Our new partner Rietumu Bank is offering German savers the possibility to invest into fixed-term deposit products with attractive interest rates combined with the security of the EU-wide harmonized deposit protection.”
About ZINSPILOT and Deposit Solutions ZINSPILOT, the B2C platform of the German FinTech Deposit Solutions. In 2016 ZINSPILOT mediated over € 1.2 billion in retail savings deposits. The Hamburg-based Deposit Solutions company is the first to offer savers a single account service for various overnight and term deposits from Germany and abroad. Thanks to low minimum investment hurdles and an award winning customer journey, Deposit Solutions is one of the fastest growing FinTech companies in the world. About Rietumu Bank Rietumu Bank is one of the biggest Latvian banks providing high quality corporate banking and wealth management services to international customers. The bank is one of regional leaders in newest technologies implementation and a well-known supporter of startup companies in FinTech sphere. Eleonora Gailisha Mass Media and Public Relations
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