TXS - a company
and its history

As we look back on 2023, we can proudly point to significant progress and successes. One business milestone was the successful sale of our business unit TXS Securitisation to BearingPoint GmbH. This step enables us and our former colleagues to focus even more intensively on our respective core competences and promote further growth.

One highlight was the 14th “Pfandbrief Forum” in Hamburg, which took place in glorious sunshine and a great atmosphere after a break of almost five years. It was fantastic to finally meet many of our customers in person again and discuss the latest developments in our industry.

Numerous regulatory developments dominated our core business area around the Pfandbrief. One particular highlight was the completion of the extensive work on European covered bond harmonisation, an important step towards uniform standards and greater transparency in the financial sector.

We also successfully delivered the first module for TXS Green Buildings, an important step into the sustainability segment, to which we at TXS attach great and forward-looking importance. Overall, it was a successful year for our team at TXS, which now numbers around 100.

2022 - a year in which we successfully implemented the comprehensive ‘European Covered Bond Harmonisation’ for our customers in Germany and Austria. This harmonisation has enabled us to offer our customers even more efficient and transparent processing of covered bond transactions.

The topic of ‘sustainability’ is increasingly determining the actions of market participants. TXS is establishing itself as a provider of standardised sustainability reporting with its Covered Bonds business segment. The various dimensions of the topic are analysed with customers in a total of 5 workshops. Sustainability and TXS Analytics spearhead the modernisation and modularisation of the TXS software architecture.  

With a total of eight new customers in the Covered Bonds business area and five new customers in the Securitisation business area, TXS was able to significantly expand its market share in 2019. TXS CAM/KEV is establishing itself as an important pillar alongside the widespread Pfandbrief solution. In the Covered Bonds business area, TXS supports the first customer in the cloud and other customers in the initial introduction of the ‘Green Bond’ modules.

The demand for secure collateral-backed refinancing in the form of Pfandbriefe and ABS securitisations continues unabated. Against this backdrop, TXS has succeeded in acquiring six new customers (private banks, savings banks, building societies, cooperative banks) for the TXS Pfandbrief product, two new customers for the SAP Funding Management product and one new customer for securitisation services. In addition, we succeeded in acquiring a strategic arranger partner for the expansion of TXS securitisation services from the current asset classes of leasing and loans to the asset class of trade receivables from corporate customers. At the end of 2017, TXS was supporting more than 105 customers with software, services and advice on all aspects of refinancing. In summer 2017, TXS founded vdpConsulting AG together with the Association of German Pfandbrief Banks and Wolfgang Crimmann. The aim is to bring together and gradually expand the specialist and strategic consulting business relating to property financing and refinancing via Pfandbriefe for the benefit of banks, building societies and other financial service providers for property financing. We have appointed Michael Schnüttgen and Reiner Lux to the Management Board, who will work together to develop the new specialist consultancy company.

The requirements for bank refinancing are changing dramatically as a result of the financial market crisis. Refinancing secured by ‘collaterals’ is becoming significantly more important. Following a number of preliminary discussions and ideas, TXS launched a product and market study on collateral management at the beginning of 2011 in the form of interviews and workshops with more than six customers and other market participants.

As a result, a great need for an IT solution for a collateral planning and control instrument as well as the feasibility in the context of a new product development of TXS is recognised. At the 7th TXS Pfandbrief Forum at the beginning of December 2011, TXS announced the launch of a corresponding product development under the name ‘TXS CAM - Collateral Allocation Management’. A first release will be finalised and implemented for customers in summer 2012. TXS wins ten new customers for TXS Pfandbrief in 2011, four of which are in Austria. In total, more than forty-eight customers now use the TXS Pfandbrief solution in Germany and Austria.

TXSuite Release 1 for RMBS securitisation transactions provides the market with a modern and flexible IT platform for securitisations. A further four banks are acquired as customers for EDR. The customer base now comprises 24 customers. TXS financial products GmbH becomes an SAP OEM partner for covered financing based on the SAP Banking Suite.

agens decides to expand its business model as an IT product provider in the Pfandbrief segment to become an IT solution provider for securitisation transactions. To provide the necessary strategic framework for this step, DG HYP and agens establish TXS financial products GmbH. The aim is to expand TXS financial products as a leading IT solution provider for Pfandbriefe, securitisations and refinancing optimisation and to position it successfully on the market. In order to achieve this goal, strategic investments are being made in the development of TXSuite into a securitisation platform as an IT solution with an initial version for structuring.