By Aisling Finn on Thursday 18 June 2020
Until today only Raisin’s Austrian, German and Irish customers held accounts with its banking entity.
“So, when talking about the European Eurozone, there’s only one contract for both banks and consumers. There’s no third-party bank involved. It makes interaction and cross-border business simpler for both banks and consumers,” he added.
The move means that Raisin’s European customers are offered a uniform service across the continent, stepping even closer to developing a European single financial market.
Katharina Lüth, vice president of Raisin Europe said: “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.”
In more EU-based news, earlier this week some of Europe’s most prominent fintechs joined forces to create a European Fintech Association (EFA), with Raisin being a founding member and its Chief Counsel, Marc Roberts, leading EFA’s board.
Alongside pursuing the creation of a European single financial market, Raisin has also pursued expansion across the pond, recently launching its first US product following a string of strategic investments.
To date, Raisin has placed €23.5bn in deposits from more than 265,000 customers across 28 European countries and 94 partner banks.