BinckBank and Raisin Announce Close Cooperation to Disrupt Dutch Savings Market
Berlin, 15 February 2018. BinckBank N.V. will be the first in the Dutch banking sector to offer its clients access to European savings products via its cooperation with Raisin, the leading provider of simple savings and investment products. Today, BinckBank launched its new product “Binck Savings” (in Dutch: Binck Sparen), enabling Dutch savers to deposit funds with selected European partner banks that offer attractive interest rates on their term deposits. Customers can directly deposit funds online via a single account at Binck Savings.
“Binck Savings is a perfect alternative for the saver struggling with the current low interest rates,” said Vincent Germyns, CEO of BinckBank. “With our new savings platform, Binck offers a unique […] product for this group that […] is increasingly looking for a higher interest rate compensation on their savings."
“We are proud to announce our cooperation with BinckBank, allowing us to offer our service to even more European savers as we enter the Dutch market. We are excited about this collaboration as our companies share common values and believe that savers should be able to access the best products across borders”, said Tamaz Georgadze, CEO and founding member of Raisin.
It is not the first time that Raisin has integrated its service into a third-party provider via open banking: all necessary data is exchanged through a modern API interface and can be easily integrated into the online banking or the app of third parties. In 2017, German mobile bank N26 was the first to integrate Raisin’s service with more partners to follow soon. Raisin is also the first company that was authorized to join BBVA Connect – a service that allows its customers to access third party services by using their existing login credentials. Raisin is also currently testing single sign-on access for German customers with Verimi.
Raisin launched its first marketplace for savings products in 2013 in Germany. Since then, more than 100,000 customers have invested over EUR 5 billion with 41 partner banks. Raisin is available in English across Europe and has localized platforms for Germany, France, Spain, and Austria. All deposits held with partner banks of Raisin are guaranteed up to EUR 100,000 per saver and bank by national deposit guarantee schemes in accordance with EU directives. Raisin is one of the best capitalized fintech companies in Europe, as it raised over EUR 70 million from investors such as PayPal, Index Ventures, Ribbit Capital and Thrive Capital.
www.weltsparen.de & www.raisin.com // Twitter // Facebook
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BinckBank is the largest independent Dutch online bank for investors and savers. BinckBank offers services to retail investors and independent asset managers in terms of savings (Saving) Investing (Investing) and trading (Trading), via its European ICT-basis platform. BinckBank is listed on Euronext Amsterdam as an independent online bank with offices in the Netherlands, Belgium, France, Italy and Spain. BinckBank serves more than 614,000 account holders with assets under administration of EUR 22.7 billion and assets under management of EUR 1.3 billion by December 31, 2016. BinckBank was formed in 2000 and employs 642 FTEs.
www.binck.nl // Twitter // Facebook
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