Source: Deposit Solutions
Deposit Solutions, the Open Banking platform for deposits, is expanding its European presence to six new regions, including Austria, France & Benelux, Central & Eastern Europe, Iberia, Italy & Malta and Nordics & Baltics.
The company’s presence in the UK will be strengthened and extended to Ireland by appointing Mark Davison as Regional Director for UK & Ireland.
Mark Davison joins Deposit Solutions from Natixis where he was Managing Director and Head of Financial Institutions. Natixis is part of Groupe Banque Populaire/Caisse d’Epargne, which is among the largest French banks. Prior, Mark Davison was Partner at KMPG and headed the European Financial Services team based in London. During previous managing positions at Fox-Pitt Kelton, Credit Suisse First Boston and Morgan, Grenfell & Co, he built up strong investment banking experience.
Max von Bismarck, Chief Business Officer of Deposit Solutions, said: “Deposit Solutions is growing rapidly, and building our pan-European presence is a key priority for us. We are delighted to have Mark Davison on board, who has high-level management experience and brings senior client relationships.”
Mark Davison added: “Deposit Solutions’ mission is to establish Open Banking for deposits, supporting a healthier banking system across Europe. I am looking forward to driving this process in the UK and Ireland.”
Deposit Solutions operates the first Open Banking platform for savings deposits. Its APIs allow any bank to easily connect to and benefit from its unique solution, either by sourcing deposits to deepen and diversify their funding base or by offering their own clients a choice of attractive deposit products from other banks under the existing account relationship. Since its foundation in 2011, Deposit Solutions has successfully established its Open Banking solution by partnering with more than 50 banks across Europe. Additionally, Deposit Solutions’ B2C offering (ZINSPILOT and SAVEDO) has 100,000 customers and is among the fastest growing fintech businesses in the world having transmitted deposits in excess of EUR 4 billion to date.
Expanding its presence across Europe provides Deposit Solutions with heightened local market expertise and insight. This enables the company to extend its relationships across the industry, and provide a tighter cultural and language fit for local clients.
Contributed | what does this mean?