Raisin takes on business deposit market
European financial deposit marketplace is moving into corporate banking territory, offering German business owners the opportunity to open term deposit accounts from its panel of banks.
Three European banks, Banco BNI Europa from Portugal, Younited Credit from France, and Greensill Bank from Germany are the first to offer interests to business clients, with more expected to join from end-2017.
Raisin’s CEO and co-founder Tamaz Georgadze says the service is initially being targeted at the low-interest German market, where businesses are typically offered -0.14 percent when they want to invest in a term deposit.
“From now on, they can take advantage of up to 0.7 percent by simply registering on our online market place”, he says.
The service draw on Raisin’s four-year experience in the consumer market, which has seen the company cross over EUR4 billion in savings products from a panel of 37 European banks for a 90,000-strong user base.