Raisin and Portuguese challenger bank expand partnership

In addition to being listed on the Raisin platform, Portuguese challenger bank Banco BNI Europa will now offer its own customers access to a range of other banks’ savings products through Raisin.

Raisin is a marketplace of generally above-average yielding savings products (and more recently investment products). It allows users to manage a portfolio of savings and investments through one platform, while also maximising the benefits of any relevant capital protection schemes.

Today’s partnership with Banco BNI is said to the first of its kind in Portugal. The Portuguese bank has been determinedly following a fintech-first strategy over the past few years. It lends money through a number of UK/European online lending platforms, including MarketInvoice and Raize.

For Raisin, this is the latest in a series of similar partnerships with banks, including Netherlands-based BinckBank in early 2018 and German fintech bank N26 in 2017. The firm suggests that more partnerships in Europe will follow.

“Starting today, Portuguese savers can diversify their savings by opening and managing term deposits throughout Europe with a chance to gain higher interest; a great alternative to manage their liquidity,” says BNI Europa’s executive chairman Pedro Pinto Coelho.

“Without the Raisin platform, willing savers not only have to research the country, the bank and the product by themselves, but also comply with varying account opening procedures in foreign countries.  This cooperation is a step further on our Challenger Bank strategy of delivering innovative, quick and easy-to-use products to our clients.”