Following this announcement, BISON will be integrating Deutsche Bank as an additional banking partner, a process that will represent a part of its multi-banking strategy. By partnering with the Germany-based bank, alongside Solaris SE, the company will be allowed to further strengthen the foundation for its growth and flexibility.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to the official press release, the EUR deposits at Solaris SE and Deutsche Bank will be protected by the statutory deposit insurance up to EUR 100.000 per deposit and per bank. At the same time, customers and clients will be given the possibility to use their existing account details to deposit into their BISON Euro account. The limits for deposits and withdrawals per transaction or per month will not be affected by this.
In addition, clients for whom this feature has already been rolled out will be allowed to make instant deposits via Apple and Google Pay or credit card.
In order to benefit from the expanded banking model, the customers need to provide their consent. At the same time, they will need to update their BISON app to the latest version, accept the pop-up, and consent to store their deposits within the trust solution at Deutsche Bank. The customers will not need to resubmit documents and go through a KYC process, as this upgrade will not affect their securities account.
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