Banca Ifis is entering the German savings market with the launch of a partnership with the German fintech Raisin.
From today, customers on Raisin’s German platform WeltSparen can choose Banca Ifis’ deposit products. Germans have demonstrated a high degree of interest in opportunities to invest across European borders, taking advantage of stronger interest rates in Italy and exhibiting trust in European deposit guarantees during the pandemic as much as previously.
The new service will be supported by Raisin’s open banking infrastructure and customer service, with the Banca Ifis products available exclusively to German savers. The partnership enables Banca Ifis to extend its banking offers across borders and into Germany, diversifying its funding streams, thanks also to the use of an already operational digital retail banking infrastructure.
For Raisin Banca Ifis, an Italian player offering specialty financing, with over 130 thousand retail clients in Italy and on-line funding and deposits exceeding 4 billion Euro, becomes the 94th partner bank on its pan-European marketplace serving nearly 270,000 customers.
“We have decided to offer a new, qualified gateway to Banca Ifis's deposit accounts with a cross-border operation which confirms our group’s position as an innovator in specialized finance,” commented Luciano Colombini, CEO of Banca Ifis. “As a result of this agreement, we will expand our customer base of savers, further strengthening our liquidity ratios using leading infrastructure in European banking, as well as expanding our funding to include foreign markets with the new channels created by Raisin.”
"In bringing Banca Ifis’s deposit products to German consumers we’re expanding access to new offers for their savings, particularly relevant in the face of persistent low rates in Germany,” said Massimo Monzio Compagnoni, Raisin Senior Associate Bank Partnerships. “Thanks to the European Union norms, Raisin has created a 'Schengen experience' for finance, enabling both banks to diversify their funding in other European nations and savers to look beyond their own borders for choosing deposits. In embracing the advantages of open banking technology and welcoming Banca Ifis to the Raisin marketplace in Germany, we're able together to extend the benefits of cross-border finance”.