Banking, Capital Markets
We have developed and maintain the open architecture platform for retail savings/deposits across Europe.
We are 5 year old German FinTech firm, backed by several pan-European VCs and by Peter Thiel, the PayPal co-founder and first outside investor in Facebook.
Our product, which is well established now in Germany, is the first open architecture solution for retail savings across Europe.
The platform allows banks active in the European Economic Area, looking for retail funding (Product Banks), to list their savings offers on our open architecture platform and at the same time it allows other retail banks (Client Banks) to market savings products of 3rd party banks to their own customers.
The Product Bank experience is very straightforward as they have a single relationship with the Client Bank, and receive retail funds in a ‘wholesale funding type experience’ – without having to carry out the AML/KYC which is done by the Client Bank.