Tamas Giorgadse, CEO and Co-Founder, Raisin

UK-based banking software provider Monese has announced a partnership with cross-border deposits marketplace Raisin in a bid to provide its clients with access to Raisin’s platform directly through the Monese hub. It is also expected to enable Monese’s users to select their preferred deposit in a newly devised process.

Raisin CEO and co-founder Tamaz Georgadze commented, “Monese customers appreciate banking across borders. To provide users of Monese banking services an opportunity to earn more on their savings, we’re launching better saving options from all over Europe on a pan-European scale, in six markets simultaneously. With our collaboration we’re setting a new standard in finance, addressing what consumers actually need in a changing world.”

According to Raisin, the partnership will allow for the provision of savings account access and management within the Monese Hub’s new service Monese Savings. The new service aims to facilitate automated, recurring payments to the customer’s Raisin savings account in order to create transparency and profitability on savings.

Monese Savings has been devised alongside Monese Pots, both of which are non-interest bearing savings accounts and are designed around the lives of a mobile customer with Monese as a primary bank account.

Norris Koppel, CEO and founder of Monese, said, “We are delighted to be launching this partnership with Raisin, as we further develop our savings products and features. We serve a fast-growing and incredibly international audience who travel the world for study, work, family, or retirement. The majority of these customers use Monese as a primary account and we know they want their money and their savings to work harder, so they can thrive anywhere. Through this partnership with Raisin customers will have fantastic access to competitive savings rates.”

Recently, Raisin announced the re-positioning of MHB Bank to Raisin Bank post their €25 million investment from Goldman Sachs and their acquisition of retirement funds specialist fairr.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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