08.01.2016
FinLab AG DE0001218063
DGAP-News: FinLab AG: PayPal co-founder and facebook-backer Peter Thiel invests in FinLab portfolio company Deposit Solutions
DGAP-News: FinLab AG / Key word(s): Miscellaneous
FinLab AG: PayPal co-founder and facebook-backer Peter Thiel invests in
FinLab portfolio company Deposit Solutions
08.01.2016 / 11:15
The issuer is solely responsible for the content of this announcement.
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* PayPal co-founder and facebook-backer Peter Thiel invests in FinLab
portfolio company Deposit Solutions
Frankfurt am Main / Hamburg, 08.01.2016 - Peter Thiel, the fintech pioneer,
Paypal co-founder and first outside investor in facebook, has made an
investment in FinLab's portfolio company Deposit Solutions GmbH, the first
open architecture platform for retail deposits in Europe.
Thiel is best known for backing companies with transformational
technologies. Deposit Solutions' aim is to transform the EUR 9 Trillion
European market of retail savings deposits with a unique b-to-b approach:
Deposit Solutions' proprietary technology, which the firm developed over
multiple years since its founding in 2011, allows European banks which seek
money (so called Product Banks) to list their savings offers on an open
architecture platform and at the same time allows retail banks (so called
Client Banks) to market all savings products listed by other banks on the
platform to their own clients. The key innovation is that bank clients can
use all savings offers with just their one account at their Client Bank and
do not need to open numerous new accounts at other banks.
The unique solution creates a win-win-win situation: Retail banks can offer
their clients best-in-class interest rates without losing the client
relationship to another bank and at the same time can manage excess
liquidity. Savers just need one master account with their local bank and
can build a portfolio of savings products in the same simple way they would
buy shares or mutual funds. Banks looking for retail deposit funding can
gather cross-border retail deposits onto their home balance sheet and gain
instant access to a large universe of clients without expensive marketing
or the need to operate a proprietary retail infrastructure.
Proprietary technology revolutionizing value chain for savers and retail
banks
The platform is run on a proven technology. Since 2011, Deposit Solutions
has already been used by renowned banks and has already mediated deposits
in excess of EUR 1 billion in different b-to-b applications. In addition to
this, Deposit Solutions launched its own retail brand ZINSPILOT in 2014,
which markets savings offers listed on the platform directly to German
savers.
Founder Tim Sievers explains: "We introduce to the retail deposits business
what has long been a standard for other bank products such as mutual funds
and mortgages: an open architecture for instant-access and fixed-term
deposit products. With this innovation, we enable banks to reach a new
level of customer service and efficiency in their retail deposit business.
In addition, we help realize the uniform, cross-border European banking
market called for by politicians and regulators."
About Deposit Solutions GmbH:
Deposit Solutions GmbH is an innovative financial technology company based
in Hamburg. Since 2011, Deposit Solutions GmbH has developed and operated
software solutions in the area of account management for the real estate
and financial services industries. In 2014, the company launched its new
retail deposits platform COMONEA. Since it was founded, the cornerstone of
the company has been its rental-security-deposit platform Deutsche
Kautionspartner. Via its money-market platform COMONEA.pro, it has so far
processed over EUR1 billion in orders. The processes inherent to COMONEA's
retail deposits platform are based on these secure and proven foundations.
Media contact:
Deposit Solutions GmbH
Andreas Wiethölter
[email protected]
Tel.: +49 (0) 40 432 7620 - 111
About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 /
ticker symbol: A7A) is one of the first and one of the largest company
builders and investors focused on the Financial Services Technologies
("fintech") sector. FinLab focuses on developing German fintech start-ups
and providing venture capital for their financial needs, whereas in each
case the aim is a long-term participation and ongoing support of the
investment. FinLab also invests globally, as part of venture rounds, in
fintech companies, primarily in the USA and Asia.
Media contact:
FinLab AG
Kai Panitzki
[email protected]
Telefon: +49 (0) 69 719 12 80 - 0
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08.01.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: FinLab AG
Grüneburgweg 18
60322 Frankfurt / Main
Germany
Phone: +49 (0)69 719 12 80 - 0
Fax: +49 (0)69 719 12 80 - 011
Internet: www.finlab.de
ISIN: DE0001218063
WKN: 121806
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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