Deposit Solutions sells “Deutsche Kautionspartner” to Aareal Bank subsidiary
Blogs on 4th June 2019
Hamburg, 4. June 2019 – Deposit Solutions, the open banking pioneer and leading international platform for savings deposits, has sold its rental deposit management division, which operates under the “Deutsche Kautionspartner” brand, to Aareal Bank subsidiary First Financial Solutions AG. “Deutsche Kautionspartner” develops, distributes and operates a software application for rental deposit management for the real estate industry. With the KM© module as core product, real estate managers can replace manual processes with automatic workflows and integrate the deposit management into their management systems.
Both parties agreed not to disclose the terms of the transaction.
Deposit Solutions has been operating its rental deposit application under the “Deutsche Kautionspartner” brand since 2011. With the sale, the company now wants to focus entirely on its rapidly growing core business and on establishing Open Banking as the new industry standard for the deposits business.
“Aareal Bank is a long-standing client and itself a renowned service provider for the housing industry. The bank is therefore ideally suited to continue operating our application successfully and to the satisfaction of our clients.”, says Dr. Tim Sievers, CEO and founder of Deposit Solutions. Georg Diehl, CEO of First Financial Solutions AG: “With the KM module, Aareal Bank Group is expanding its product portfolio with a multibank-capable rental deposit solution. With this acquisition, Aareal Bank is consistently pursuing its strategy of positioning itself as a fullservice provider of rental deposit solutions”.