One of the stated goals of the Raisin platforms is Europe-wide, cross-border access to financial products. Germany-based Raisin is now making use of the recent acquisition of MHB Bank to bring customer accounts from 31 countries to its own Raisin bank.
The Raisin platform connects dozens of partner banks with more than 250,000 customers from different European countries. Previously, customers across Europe had to open a service account with Belgium-based Keytrade Bank to sign up with Raisin.
This has changed now as all of Raisin’s European customers have been transferred to Frankfurt-based Raisin Bank. Dr. Tamaz Georgadze, co-founder and CEO of Raisin, told AltFi: “The consolidation of infrastructure brings a lot of value to us, but also the users of our platform.”
This consolidation comes with one exception: with Brexit, Raisin’s UK subsidiary will continue to partner Starling Bank.
Katharina Lueth, VP Europe, Raisin, says: “We benefit as a result of the wide range of synergy effects within our group of companies and, as a European company, are thus consistently living the idea of a European single market.
“Going forward, our customers – as well as our partner banks and other business partners – will receive all their services consistently and from a single source.”
Also, just recently, the Swedish ‘buy now – pay later’ unicorn Klarna has partnered with Raisin to expand it’s offering in the German market. Check the full article below.
Raisin Bank has so far garnered €23.5bn in deposits from over 265,000 customers across 28 European countries and 94 partner banks.