Embedded finance: Raisin and PROCHECK24 launch novel deposits solution for German financial institutions


  • Partnership makes Raisin marketplace available to PROCHECK24’s 60,000 business partners
  • PROCHECK24 client banks can integrate Raisin products now with a quick, streamlined process
  • Integrating the Raisin marketplace offers banks increased product diversity and tools to strengthen customer relationships
  • A top 10 German Sparkasse bank, Sparkasse Bremen, has now launched Raisin products through PROCHECK24

Banks and other financial services providers (FSPs) are increasingly looking to “embedded finance” solutions to inspire enthusiasm and customer attachment as the economy transforms and the world becomes increasingly digital. The new partnership between the German B2B financial product broker PROCHECK24 and deposits marketplace Raisin pioneers a hybrid approach to embedded finance. Deposit products from Raisin’s European partner banks are integrated into Raisin’s German savings marketplace WeltSparen, then via PROCHECK24 into the broker’s bank partners, where they become available to those banks’ retail customers. Each link in this model brings a defined value for end customers, from higher interest rates and Raisin’s marketplace function, to PROCHECK24’s breadth of business users and data transfer technology, to the client banks with their retail services.

PROCHECK24’s system powers the most extensive household finance comparison and brokerage platform in Germany for its 60,000 clients, connecting them to a wide range of 3rd-party insurance products, loans, current accounts, and credit cards along with utilities contracts. Raisin’s savings marketplace represents the first overnight and term deposits in PROCHECK24’s product range. Now PROCHECK24 FSP clients can begin offering deposits from Raisin through a greatly simplified process. Raisin has thus expedited its integration with 60,000 potential new distribution partners across Germany. As a first, public bank Sparkasse Bremen is now offering Raisin deposit products powered by PROCHECK24’s platform.

End customer benefits accrue from its embedded application process, PROCHECK24 collects and transfers customer data to Raisin. All customer investment transactions are likewise transferred from Raisin by PROCHECK24 to their FSP client, which can react by providing their end customer with targeted and timely advice based on those transactions. Banks’ financial advisors can use the data transparency to proactively search for the highest yields and offer alternative products, for instance, when better interest rates become available, strengthening their own customer relationships. Raisin’s marketplace has already placed 26 billion Euro, with more than 750 deposit products on its platform from nearly 100 partner banks across Europe.


PROCHECK24 CEO Daniel Hering

PROCHECK24 CEO Daniel Hering: “We’re proud to have secured Raisin as a market leader for this novel type of cooperation. Together we’re driving the concepts of platform economy and “embedded finance” forward from a business standpoint and have generated real value in the retail banking product sector. Thanks to open, uniform IT architecture, there is a tried and tested, deeply integrated set-up for all partners that can be easily implemented in existing systems. The extensive experience we gained in the new product process with Sparkasse Bremen, one of the top ten German Sparkasse banks, is particularly exciting for future bank cooperations. This is cost-effective and saves time during implementation. At the same time, the solution fits seamlessly into the ‘Look & Feel’ and brand world of banks and financial service providers.”


Raisin VP Business Clients and Partnerships Benedikt Voller

Benedikt Voller, Raisin Vice President for Business Clients and Partnerships: “Banks and their customers will benefit from our new distribution partnership with PROCHECK24. With Raisin’s German offers, banks and financial service providers can offer individually attractive options and retain customers, while also reducing their cost pressure and generating commission income from brokering over the entire investment period. Our aim is to significantly expand our sales activities through this smart partnership.”



With over 60,000 sales partners, PROCHECK24 GmbH operates the largest internet platform for brokering products related to household finance optimization in the B2B area. The focus is particularly on the brokering of installment loans, checking accounts and credit cards, vehicle insurance as well as electricity, gas and DSL contracts. PROCHECK24 provides its sales partners with the CHECK24 comparison calculator, offering a technical solution with leading usability, broad market coverage, and premium conditions. In addition, PROCHECK24 distinguishes itself through its service: sales partners are intensively trained, supported in advising end customers, while submitted applications are checked and, if necessary, optimized before being forwarded to product partners. PROCHECK24’s sales partners are insurance brokers, financial advisors, broker pools, financial distributors as well as banks and insurers. For more information (in German): www.procheck24.de

About Raisin

A trailblazer for open banking and the leading pan-European one-stop shop for online savings and investments, Berlin-based fintech Raisin was founded in 2012 by Dr. Tamaz Georgadze (CEO), Dr. Frank Freund (CFO) and Michael Stephan (COO). Raisin’s platforms — under the brand WeltSparen in the German-speaking world — are breaking down barriers to better savings for European consumers and SMEs: Raisin’s marketplace offers simple access at no charge to attractive and guaranteed deposit products from all over Europe, as well as globally diversified, cost-effective ETF portfolios and pension products (currently available in Germany). With one online registration, customers can choose from all available investments and subsequently manage their accounts. Since launch in 2013, Raisin has placed 26 billion EUR for more than 280,000 customers in 28+ European countries and 98 partner banks. Raisin was named to Europe’s top 5 fintechs again in 2020 by the renowned FinTech50 listing and is backed by European and American investors including btov Ventures, Goldman Sachs, PayPal Ventures, Thrive Capital, Index Ventures, Orange Digital Ventures and Ribbit Capital. Raisin UK in Manchester, banking-as-a-service provider Raisin Bank in Frankfurt, pensions specialist fairr, and Raisin Technology (formerly Choice Financial Solutions) all belong to Raisin.

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