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.”