Santander Spain has opened its API marketplace to its first fintech firm, pan-European savings platform Raisin, enabling customers to register their details with the startup with a simple button press.
The Open Bankingg agreement enables Santander customers to authorise the bank to share with Raisin defined data for the registration process, such as the customer's name, date of birth, ID or contact details. Access to Raisin will be granted through the "Santander Connect" button, designed to provide ease of access to innovative products from third party firms.
Raisin CEO Tamaz Georgadze, comments: “Our cooperation with Santander in Spain represents not just a relationship of trust between one of the largest, multi-national banks in the world. It also shows how big banks and fintechs can combine expertise to provide greater benefits and increase value for customers.”
Berlin-based Raisin currently has relationships with 62 banks across Europe, offering users the chance to invest their savings and manage their accounts across a range of competing offers. Since launch in 2013, Raisin has brokered EUR10 billion for more than 160,000 customers in 31 countries.