Banks, EU – Baltic States, Financial Services, Good for Business, Innovations, Latvia

Regarding to cooperation with ZINSPILOT Rietumu Bank receives cost effective access to the € 2,000 bln German savings market – the largest in Europe. 

By using a modern B2C (Business-to-Consumer) platform, funds of clients of German banks are sent for placing on deposits in banks of different EU countries. This way, clients can place their funds under the most attractive interest rates maximally reliably - all such placements are covered by the uniform European guarantees for safety of deposits. 

Alexander Voloshin, member of the Board of Rietumu Bank: “The project with ZINSPILOT is a perfect example which shows advantages given to traditional banking services by new technologies. Regarding to this kind of cooperation, European banking customers get new, much wider opportunities to receive safe and considerable income on their assets. At the same time it allows banks to develop their networking and get new sustainable finance resourses”. 

The unique ZINSPILOT service now makes the deposit products of Rietumu Bank widely available to German savers and will list the products on more than 1,000 websites in Germany. 

Andreas Wietholter, managing director of ZINSPILOT: “The German deposit market is struggling with a huge surplus of deposit volume seeking for positive interest rates in a negative interest rate environment. Our new partner Rietumu Bank is offering German savers the possibility to invest into fixed-term deposit products with attractive interest rates combined with the security of the EU-wide harmonized deposit protection.” 

ZINSPILOT, the B2C platform of the German FinTech Deposit Solutions. In 2016 ZINSPILOT mediated over € 1.2 billion in retail savings deposits.