The partnership of mobile-only bank N26 with German fintech Raisin allows the bank to offer its clients, initially in Germany but across the EU beginning next year, the chance to open savings accounts with just a few taps. As Raisin doesn’t offer savings accounts itself but partners with financial institutions across the eurozone, it can find the best rates depending on a customer’s specific needs.
“We notice a continuous and increasing interest from banks across Europe to join our independent marketplace with now more than 75,000 customers,” says Raisin CEO and founder Tamaz Georgadze. “With Raisin, distribution partners can make their own offer more attractive, and partner banks get direct and easy access to retail savings across Europe. For our customers, this means more choice, convenient access and the best available interest rates.”
Valentin Stalf, founder and CEO at N26, says N26 Savings offers customers a new, innovative savings product with very attractive terms. Previous services N26 has offered via application programming interface include international transfers into 19 currencies through a partnership with TransferWise and investment options via Vaamo.