By Oliver Smith on Tuesday 1 December 2020
One of Italy's largest and oldest banks is to offer external deposit products.
European deposits marketplace Raisin is entering Italy today through a partnership with one of the country’s largest and oldest banks, Banca Sella.
The tie-up will see the German fintech’s marketplace of savings accounts across Europe made available for Banca Sella customers to choose through their online banking accounts.
It also makes Banca Sella the first Italian bank to offer its customers external deposit products.
“It’s also a great illustration that the potential for innovation depends not on how new a financial institution is but on its vision. Our partnership with Banca Sella enables Raisin to take an important step toward our vision, as Raisin products are now available on a localized platform to savers in all of Europe’s largest economies.”
To start with, Raisin’s service has been offered as a pilot program for select customers, but will be expanded in the coming months to cover all Banca Sella’s retail account holders.
At the same time the fintech said it would be expanding its partnership model in the UK, looking to integrate with banks as it has in Italy and the Netherlands.