Deposit Solutions GmbH, corporate

Deposit Solutions GmbH,

12.04.2017 - 10:05:12

?Deposit Solutions appoints Holger Hohrein as Chief Operating Officer

Deposit Solutions appoints Holger Hohrein as Chief Operating Officer

Hamburg/London, 12 April 2017 - Deposit Solutions, the leading Open Banking platform for deposits and operator of ZINSPILOT, has expanded its executive team with the appointment of Holger Hohrein as Chief Operating Officer.

Hohrein will work alongside the existing management team as Deposit Solutions continues to develop its Open Banking technology, connecting banks and savers across Europe. He will be responsible for product and platform strategy, compliance and corporate development and help manage the growth of the company.

Hohrein joins Deposit Solutions from comdirect bank AG, Germany's third-largest direct bank, where he was Chief Financial and Chief Risk Officer and a Member of the Board. He joined the firm in 2008 as Head of Finance, Controlling and Risk Management and was appointed to the Board in 2013 with additional responsibility for business development, strategy and IT. From 2013 to 2016, Hohrein was also Member of the Supervisory Board at ebase GmbH, the European Bank for Financial Services. He started his career at McKinsey & Company, where he spent nine years advising a number of German and European financial institutions.

Dr. Tim Sievers, founder and CEO of Deposit Solutions, said: "At Deposit Solutions, our mission is to establish Open Banking as the new industry standard for the deposits business across Europe. I am very happy that with Holger we were able to win one of the industry's top experts for deposits and digital banking as our new COO. With his experience from advising banks at McKinsey and leading one of Europe's most successful digital banks as board member for comdirect, he is a valuable addition to our leadership team."

Holger Hohrein added: "Deposit Solutions is on the cusp of something big in the European banking landscape. Open Banking fundamentally transforms existing value chains in the financial industry. With its unique technology, Deposit Solutions is a driver of this transformation, and its partnerships with some of the leading global banks are a strong signal to the industry. I am happy to be on board to help drive the future growth of the company."

About Deposit Solutions

Deposit Solutions is a globally recognized FinTech company that is transforming the EUR 30 trillion retail and corporate deposit market in Europe. Its ground-breaking Open Banking platform allows banks to offer attractive third party deposit products to their own clients with their existing accounts. As a result, savers and corporates can access best in class deposit offers without having to open a new account at another bank, and banks can gather deposits from across Europe without facing the need to build and operate their own deposit infrastructure.

Today, Deposit Solutions is already connecting banks across more than 10 European countries. In addition, the firm operates its own retail brand ZINSPILOT which markets select deposit offers of its partners directly to savers. In 2016 ZINSPILOT alone mediated more than EUR 1 billion in deposits. This makes Deposit Solutions one of the fastest growing FinTech companies in the world. The company is headquartered in Hamburg, Germany, and now operates subsidiary companies with local offices in London and Zurich. Founded in 2011 by Dr. Tim Sievers the firm today employs a first in class team of 100 highly qualified employees. Deposit Solutions so far has received EUR 25 million in venture capital funding and was valued at EUR 110 million during the last investment round in July 2016. Renowned international investors participated in both rounds, among them Greycroft Partners, FinLab, e.ventures, Valar Ventures and Peter Thiel.?

Media Contacts

UK

Matthew Thomlinson, CNC Communicationsmatthew.thomlinson@cnc-communications.com +44 (0) 79 082 492 66

Germany

Maximilian Karpf, CNC Communicationsmaximilian.karpf@cnc-communications.com +44 (0)20 3817 993

End of Media Release Issuer: Deposit Solutions GmbH Key word(s): Enterprise

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