Deposit Solutions cooperates with French bank

Already 200 banks from 20 European countries use the platform of the fintech Deposit Solutions. Now one more has joined the ranks: French consumer credit bank Crédit Agricole Consumer Finance.

Fintech Deposit Solutions is entering into a partnership with consumer credit bank Crédit Agricole Consumer Finance, a subsidiary of major bank Crédit Agricole. Deposit Solutions will provide its platform through which savings deposits are managed. Crédit Agricole Consumer Finance plans to first offer time deposits in Germany through the Zinspilot portal, which is part of Deposit Solutions.

According to its own information, the Hamburg-based fintech, founded in 2011, works with banks from 20 European countries, which have access to the customers of all partners through the use of Deposit Solutions.

"We are excited to help Crédit Agricole Consumer Finance further establish itself in Germany with its savings deposit products," said Tim Sievers, founder and CEO of Deposit Solutions. "Our platform, with its high reach and simple operational setup, provides the optimal infrastructure for this," he says, explaining the benefits for the bank.

"A stable and diversified funding mix is particularly important for us in the current situation," explains David Drapeau, CFO of Crédit Agricole Consumer Finance. As of December 31, 2020, the bank managed 91 billion euros in outstanding loans.