Cross-border savings marketplace Raisin has launched in Ireland, promising to triple interest rates on deposits for Irish savers.
Raisin is targeting a country with the lowest interest rates in Europe and where 42% of households have at least €100,000 in savings.
The firm is offering more than 25 alternative savings products from an initial roster of partner banks across Europe.
The new savings platform for Irish savers is the first to be launched using the banking licence obtained by Raisin following its takeover of former partner MHB-Bank.
Raisin chairman Frank Freund says: “With the Raisin.ie marketplace, Raisin Bank is enabling Irish customers to significantly increase their profits on deposits by connecting them in a simple, transparent way to competitive offers on the continent.”
Raisin's deposit platforms recently surpassed €16 billion in total brokered volume since launch in 2013 and has delivered more than €115 million in interest to over 200,000 savers across Europe.