Berlin’s Raisin partners with Credorax to offer its German users retail deposits
Pan-European savings marketplace Raisin has partnered with merchant acquiring bank Credorax to offer its German customers retail deposits.
Raisin’s deal with Credorax also marks the fully-licensed bank and smart payments provider’s first banking products to be rolled out in the region.German retail customers who want savings opportunities with higher interest rates can access the retail deposit offering through WeltSparen, the Berlin-based fintech’s portal.
The companies say this cooperation between two cross-border financial services “points to future of finance”. It will see Raisin offer more to its customers and see Credorax expand its banking offer into a new market in Europe.
“Making Credorax’s first deposit products available exclusively to our customers in Germany is a win for Raisin and for German savers looking for competitive yields on their deposits,” says Raisin’s CEO and co-founder Tamaz Georgadze.
“By facilitating investing anywhere in Europe, we’re providing customers with a solution to the persistent low-interest environment in Germany,” Georgadze adds.
Raisin is the first – and currently the only – company to offer Credorax’s retail deposits to its customers, which suggests more firms across Europe will be soon to follow.