Smart payments provider will enable Raisin customers to access retail deposit offers, creating savings opportunities with higher interest rates
BERLIN and TEL AVIV, Israel, Dec. 3, 2019 /PRNewswire/ — Today, fintech bank and smart payments provider, Credorax, and savings marketplace, Raisin are announcing a new partnership which will offer retail deposits to Raisin customers in Germany. This partnership marks the launch of Credorax’s first banking products in the region, and a broadening and diversifying of its portfolio and funding to Europe’s largest savings market. Raisin’s German platform WeltSparen (www.WeltSparen.de) will be the portal to feature the payments specialist’s new products designed for retail customers in search of savings opportunities with higher interest rates.
This cooperation between two cross-border financial services points to future of finance. Through this partnership, Raisin will be able to broaden its product portfolio for customers, and Credorax will be able to quickly and flexibly expand its banking offer, offering deposits in new markets, as well as gain high quality retail funding to support its growth and strengthen its position in the European payments and banking space.
“Partnering with Raisin is a great opportunity for Credorax. As the payments and banking sector rapidly evolves in Germany and across Europe, this unique partnership allows us to expand our offering on the continent to include deposits,” said Igal Rotem, CEO at Credorax. “Entering the savings market both extends our range of products and services and enables us to continue building our capacity to support more European merchants with our payments technology.”
“Making Credorax’s first deposit products available exclusively to our customers in Germany is a win for Raisin and for German savers looking for competitive yields on their deposits. By facilitating investing anywhere in Europe, we’re providing customers with a solution to the persistent low-interest environment in Germany,” explained Dr. Tamaz Georgadze, Raisin CEO and co-founder. “With this partnership we can create an opportunity for Credorax within the smart payments sector to diversify their funding base and take another step toward the new cooperative fintech economy – one built on specialization and partnerships like this.”
Credorax is a fintech fully-licensed bank and smart payments provider providing cross-border payments processing for eCommerce and omni-channel merchants. Credorax’s gateway technology, Source™, has been developed in-house to provide a streamlined payments experience so smart and secure, that merchants can reach their full business potential simply by better managing their payments. Credorax merchants can accept more than a hundred cards and local payment methods and get paid in their currency of choice. They also enjoy best-in-class approval rate optimisation, advanced anti-fraud protection, business intelligence and a host of other value-added services and products adding up to a payments experience unlike any other. To learn more, contact Credorax at [email protected] or visit www.credorax.com.
A trailblazer for open banking and the leading pan-European one-stop shop for online savings and investments, Berlin-based fintech Raisin was founded in 2012 by Dr. Tamaz Georgadze (CEO), Dr. Frank Freund (CFO) and Michael Stephan (COO). Raisin’s platforms – under the brand WeltSparen in the German-speaking world – are breaking down barriers to better savings for European consumers and SMEs: Raisin’s marketplace offers simple access at no charge to attractive and guaranteed deposit products from all over Europe, as well as globally diversified, cost-effective ETF portfolios (available in Germany). With one online registration, customers can choose from a wide range of available investments and subsequently manage their accounts. Since launch in 2013, Raisin has brokered over 17.5 billion EUR for more than 220,000 customers in 31 European countries, delivering the retail funding to 88 partner banks. Raisin was named to Europe’s top 5 fintechs by the renowned FinTech50 awards and is backed by prestigious European and American firms such as btov Ventures, Goldman Sachs, Index Ventures, Orange Digital Ventures, PayPal Ventures, Thrive Capital and Ribbit Capital. Raisin UK in Manchester, banking-as-a-service provider Raisin Bank in Frankfurt and pensions specialist fairr, all belong to Raisin.
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