Santander Spain and Raisin in open banking duet
Via the deal, customers can authorise the bank to share with Raisin defined data for the registration process, such as the customer’s name, date of birth, ID or contact details.
“Our cooperation with Santander in Spain represents not just a relationship of trust between one of the largest, multi-national banks in the world. It also shows how big banks and fintechs can combine expertise to provide greater benefits and increase value for customers,” says Raisin CEO Dr. Tamaz Georgadze.
In terms of the registration process for Santander customers, they can access Raisin’s products through the “Santander Connect” button.
Through API-based open banking, Raisin works with more than 60 member banks across Europe offering a range of terms and interest rates.
In this way, Spanish savers can find the right product for them and “earn more from their savings”.
All deposits invested through Raisin are protected by the respective national deposit guarantee funds of up to €100,000 per bank and per customer, as specified in the EU guidelines.
For Raisin, based in Germany and launched in 2013, it says “the partnership with one of Europe’s largest banks is an important signal”.
Last week, O2 Banking Germany started offering savings and investment products through its mobile app, courtesy of a new partnership with Raisin’s platform WeltSparen.