Deposit Solutions cooperates with French bank

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

The fintech Deposit Solutions has entered into a cooperation with the consumer credit bank Crédit Agricole Consumer Finance, a subsidiary of the major bank Crédit Agricole. Deposit Solutions provides its platform for managing savings deposits. Crédit Agricole Consumer Finance initially intends to offer fixed-term deposits in Germany via the Zinspilot portal, which belongs to Deposit Solutions.

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

"We are delighted to help Crédit Agricole Consumer Finance to further establish itself in Germany with its savings deposit products," says Tim Sievers, founder and CEO of Deposit Solutions. "With its wide reach and simple operational setup, our platform offers the optimal infrastructure for this," he explains the advantages 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.