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, Raisin’s CEO and founding member.
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.