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TXS - a company
and its history

Welcome to our history page

We would like to give you an insight into the eventful history of TXS GmbH. Since our foundation many years ago, we have developed steadily and are now known as a specialist for software, services and consulting in the field of collateralised refinancing for banks and financial service providers in Germany and Austria. Find out more about our beginnings and the most important milestones and successes that have made us what we are today. Dive into the past and discover how we have evolved over time to meet the needs of our clients. 

 

2023

Successes, progress and personal encounters at TXS

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 focussed on sustainability

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.

Another highlight of the year was the launch of the first ‘Inside TXS’ as a new form of interactive and agile customer dialogue. This platform enables us to communicate directly and personally with our customers in order to better understand their individual needs and requirements and offer appropriate solutions.

We have also introduced the ‘Green Pfandbrief’, which enables our customers to finance sustainable projects while benefiting from the advantages of a Pfandbrief. This innovative approach has been very well received by our customers and we are delighted with the positive response. In the area of sustainability, we have also developed the ‘Sustainability Module’, which enables our customers to define and pursue their sustainability goals. In this way, we support our customers with regard to their visions for greater sustainability.


It's getting greener and greener

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.  


The absnext platform is establishing itself

Thanks to new customers, partners and services in the Securitisation business area, the number of transactions (> 20 transactions as at 31.12.2021) and thus the volume processed on the platform is continuously increasing. The breakthrough of the EUR 10 billion sound barrier is imminent and is firmly envisaged for 2022. Thanks to the new partnership with Bertelsmann Financial Services, the range of services is now being supplemented by back-up services. Successful disaster recovery and penetration tests underline TXS's unwavering commitment to quality when it comes to protecting and securing our customers' data and information.  

2019

Remarkable increase in customers

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.

Introduction of the TXS ISMS

TXS prioritises the confidentiality, availability and integrity of information. Everything we do is based on the fact that we process data and information that we receive from our customers in accordance with the applicable rules of the GDPR. We have therefore introduced an information security management system (ISMS) to implement our security objectives and have appointed an information security officer (ISO), Claudia Dethloff-Obermann (see picture), in addition to our data protection officer (DPO). 

Read more
[Translate to Englisch:] Claudia Dethloff-Obermann - Informationssicherheitsbeauftragte

2017

Foundation of vdpConsulting AG

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.

2011

The financial market crisis is causing major changes

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.

2010

Success prevails - the ‘TXS Pfandbrief’

The ‘TXS Pfandbrief’ solution package has proven itself among pilot customers and is approved for the entire customer base. The management of TXS acquires the majority of the company shares. With this personal entrepreneurial commitment, the management is clearly committed to the TXS business model and its long-term and sustainable expansion. TXS acquires seven new customers for the Pfandbrief management solution EDR and TXS Pfandbrief, including two new customers in Austria. This marks the successful entry into the Austrian market after a two-year preparation and dialogue phase. TXS also wins two new customers for RefiRegister and one new customer for the SAP Funding Management product.


2007


The birth of TXS today

The agens Group and DG HYP decide to merge their entire business model under one brand - TXS. TXS GmbH and TXS financial products GmbH establish themselves as a legally separate but joint solution provider for all services relating to securitisation, syndication and Pfandbrief management. The electronic refinancing register (RefiReg) is being developed on the basis of EDR and TXSuite in order to implement the Refinancing Register Ordinance and offer customers a one-stop solution for all aspects of refinancing. SAP Syndications Management is sold to a large leasing finance company in Germany and to a bank in the Netherlands.

2005

The modern IT platform for securitisation

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.

2004

Foundation of TXS financial products GmbH

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.

1999

EDR is expanding

The company-independent use of EDR can be expanded thanks to architecture encapsulation and clear separation between the core system and interfaces. EDR is now available to four customers with Release 3. A wide range of users benefit jointly from functional enhancements and necessary customisations.


1996

The electronic cover note (EDR) is created

Deutsche Genossenschafts-Hypothekenbank Hamburg (DG HYP) and the consultancy firm agens Consulting GmbH (agens), based in Ellerau/Hamburg, launch a software development project with the aim of converting the trustee office, which until then had largely been managed manually, to electronic processing and introducing the electronic cover calculation (EDR) as the basis for Pfandbrief issues in-house.

Moving years lie behind us

We are very proud of the development of TXS GmbH and hope that this brief insight has shown you where we come from and how we have been able to establish ourselves as specialists for software, services and consulting in the field of collateralised refinancing.


If you would like to find out more about our company and our team, please visit our About Us page.

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