Deposit Solutions & My Money Bank become
Partners

30 November 2017
Deposit Solutions & My Money Bank become Partners

My Money Bank has entered into an agreement with Deutsch Bank through the German fintech Deposit Solutions.

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Deposit Solutions is an open banking platform specialising in bank deposits. By falling back on networks rather than the centralisation of data, open banking makes it possible to bring customers seeking financial products together with financial institutions across Europe.

This partnership will allow Deutsche Bank customers to make My Money Bank in a few clicks from their existing account without needing to open a new account at partners of Deposit Solutions.

This is an opportunity for My Money Bank to offer its savings products to a broad customer basis through Deposit Solutions without having to develop its own infrastructure. 

Tim Sievers, PDG and fonder of Deposit Solutions, said: “Our mission is to make open banking the new industrial standard for deposits in Europe. The French market is an important part of our expansion strategy. We welcome My Money Bank and are happy to add this innovative French bank to our open banking platform.”

Thomas Schneegans, chief financial officer of My Money Bank, added: “Deposit Solutions provides middleware that allows us to efficiently open our deposit products to new customer groups. Access to the German deposits market will support the next step in our growth and allow us to expand our offer of suitable financial solutions to our customers.”