Rietumu Bank first from Latvia to join single deposit account service platform in Germany

The Hamburg-based company Deposit Solutions is a good operational Fintech and European Single Market example. While term deposit rates in Germany are zero (or sometimes even negative), the platform offers single deposit account service via B2C platform ZINSPILOT
The platform uses services of German white-label banks to collect term deposits in Germany and transfer them to banks in other EU countries where deposit rates are higher. Platform is available for various overnight and term deposits in the country and abroad for those Germans who are willing to save money. ZINSPILOT features banks from Austria, Germany, Malta, Romania and UK. Rietumu is a first Latvian bank to recently join the platform.

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."

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