Monese offers Savings across six European countries in partnership with Raisin

Savings products are coming to Monese, powered by Raisin, the European savings and deposits marketplace thought to have achieved a $1bn valuation earlier this year.

The digital banking app announced today that Raisin, with its 500 savings products and connections with over 80 partner banks, will be added shortly to Monese’s Hub of third-party providers.

“We are excited to be launching this partnership with Raisin, as we further develop our savings products and features,” said Norris Koppel, CEO and founder of Monese.

“The majority of these customers use Monese as a primary account and we know they want their money and their savings to work harder, so they can thrive anywhere.”

For UK Monese customers the partnership with Raisin will see them able to access rates of up to 2.20% interest (with Wyelands Bank’s 5 years Fixed Term Deposit).

Customers in Germany, Austria, France, the Netherlands, and Spain will have access to hundreds of other savings products.

“In enabling users of the innovative Monese banking app to save better and earn more interest, and, uniquely, launching in 6 European markets simultaneously, this partnership represents another milestone in the transformation of 21st-century banking toward meeting consumers’ real and changing needs,” said Raisin UK CEO Kevin Mountford.

Raisin’s CEO and Co-Founder Dr Tamaz Georgadze is speaking at AltFi’s Berlin Summit on 18 November in Germany.

Monese recently partnered with PayPal to let its customers manage both their PayPal balance from within the Monese app, similar to a partnership Monese struck with rewards points provider Avios earlier in the year.