Raisin becomes one of Germany’s only cloud banks with new partnership with Mambu

By Aisling Finn on Thursday 4 November 2021

Digital BankingSavings and Investment

Raisin Bank will use Mambu’s platform to offer its own BaaS services to new and existing customers.

Raisin becomes one of Germany’s only cloud banks with new partnership with Mambu
Image source: Andreas Wolf/Lukas Schramm

Raisin Bank, the company owned by Raisin DS, has officially launched its Banking-as-a-Service (BaaS) platform in collaboration with Mambu.

The bank will use Mambu’s cloud banking platform to become one of Germany’s only cloud-based banks.

Raisin Bank’s new and existing customers have been migrated over to Mambu’s platform and can integrate the fintech’s BaaS services into their own platforms, allowing them to provide products that would have previously required a banking licence.

"Migrating all of our services to Mambu’s platform enables us to add real value to our many partners and clients as well as to Raisin DS,” Andreas Wolf, chief commercial officer at Raisin Bank, said. 

“With Mambu, we have multiplied the speed with which we can scale processes and develop new applications. This step positions us to meet the rapidly increasing demand for digital banking solutions."

Raisin Bank has its own German banking licence which it can passport to every country in the EU.

By joining forces with Mambu, Raisin Bank will increase the speed at which its customers can build and launch new products and increase their flexibility and speed too.

“Building a licensed BaaS offering and migrating all customers is a fantastic achievement and we are proud to have supported Raisin Bank in becoming one of the first cloud banks in Germany,” Eelco-Jan Boonstra, managing director EMEA at Mambu, added.

“Their customers and partners now benefit from innovation, security, and resilience of the platform, all at scale. We know this is just the beginning for the Raisin Bank team and are looking forward to being part of their story as they keep revolutionising banking services across Europe.”

Just three weeks ago, Raisin DS, Raisin Bank’s parent company, announced a partnership with Germany’s second-largest direct bank Deutsche Kreditbank (DKB).

All of DKB’s 4.8m of its customers are now able to access Raisin’s overnight and term deposit savings accounts under the arrangement.

As well as savings, Raisin DS has also been developing its own investment marketplace, having launched an ETF ‘hybrid robo’ trading platform in May and reaching £1bn in total ETF investments earlier this year.

Earlier this year, Raisin DS revealed it was joining forces with keen rival Deposit Solutions, merging the two platforms to create one savings and investment marketplace.

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