Temenos (SIX: TEMN), the banking software company, announces today that Raisin, Europe’s largest deposits marketplace, has joined Temenos MarketPlace.
The Berlin-based fintech, Raisin, offers European savers higher interest rates on their deposits, which are fully protected under the national deposit guarantee scheme. Savers in 31 countries can set up an online account with Raisin, choose between competing offers from Raisin’s more than 60 partner banks, with varying interest rates and terms, and then Raisin seamlessly places those funds at the selected partner bank. Customers are thus able to take advantage of higher interest rates across the EU without leaving the comfort of home.
Temenos clients will now be able to access these advantages from one or both sides of the Raisin platform. Those looking for new sources of funding can become partners, offering Raisin customers deposit products. Likewise, if they wish to provide higher interest rates on savings products to their existing customers, they can offer select Raisin products on their own platforms or otherwise directly connect their customers to Raisin.
Michael Stephan, COO and co-founder of Raisin: “We are delighted to be joining the Temenos MarketPlace. Temenos has a large base of retail and universal banking clients in Europe which we hope to attract to Raisin and which, in turn, would greatly increase the efficacy of the platform, helping more savers get a decent return on their money as well as supporting banks access retail liquidity effortless across Europe.”
Chief Strategy Officer at Temenos Ben Robinson explained: “We are looking to build on the massive growth in the Temenos MarketPlace in 2018 by opening it up to banking services providers in 2019. The first of these is Raisin, Europe’s largest deposits platform, but there will be many others. In the same way, as we have helped our customers to find and quickly deploy the best fintech applications, they would like us to do the same for banking services. Now pre-integrated with Temenos, our customers can immediately start placing or receiving deposits with Raisin.”