Banca Ifis breaks into Germany with Raisin partnership
Italian speciality financing firm Banca Ifis has launched in the German market via a partnership with Raisin.
Customers on Raisin’s German platform WeltSparen can use Banca Ifis’ deposit products.
Raisin’s open banking infrastructure and customer service is supporting the initiative. German savers can get exclusive access to Banca Ifis products.
Cross-border capital investment in Europe reached €150 billion in 2019, according to Savills data. €82 billion of that figure originated from within the EU.
According to Raisin, the partnership gives Banca Ifis the chance to diversify its funding streams. The bank has become the fintech’s 94th partner in a network that claims to serve more than 270,000 people.
Luciano Colombini, CEO of Banca Ifis, says the deal expands his firm’s customer base and strengthens its liquidity. He adds that the move confirms Banca Ifis as “an innovator in specialized finance.”
Founded in 1983, Banca Ifis provides credit services and solutions and management of non-performing loan portfolios.
“We’re expanding access to new offers for savings, particularly relevant in the face of persistent low rates in Germany,” says Massimo Monzio Compagnoni, Raisin senior associate for bank partnerships.
“In embracing the advantages of open banking technology and welcoming Banca Ifis to the Raisin marketplace in Germany, we’re able together to extend the benefits of cross-border finance”.
Raisin launched a savings-as-a-service software solution for US banks and credit unions earlier this year.
The fintech, which is backed by Goldman Sachs and PayPal, aims to give banks and CUs customised time deposit products.
Related: Klarna dips its toe in the savings market with Raisin