Dr. Tamas Georgadze, CEO and Co-Founder, Raisin

Amsterdam-based open banking platform Yolt has entered into a partnership with European deposits marketplace Raisin to launch its savings account, thereby enabling its customers to apply for a Raisin Account. It will also allow access to the supplier’s in-app deposit products.

Cristel Lee Leed, Yolt’s Chief Marketing Officer, said, “Our latest partnership will benefit our Yolt community of users, giving them access to savings products – empowering them to do more with their finances.”

According to the supplier, the partnership will allow Yolt users to manage bills, insurance, pensions and savings through Raisin’s platform. It is expected to strengthen Raisin’s reach to financial institutions and expand Yolt’s savings offerings. Raisin stated that the partnership will allow the customers to effectively conduct financial management aim for enhanced savings methods.

Kevin Mountford, Raisin UK CEO, explained, “In a highly competitive interest rate market, consumers are increasingly looking for providers that provide an all-in-one tool when it comes to their money. Raisin’s B2B solution gives financial service providers with the ideal tool to extend their offering, without pulling focus or resource away from their core services and offer their customers something new.”

Established in 2017 as a venture of ING Bank N.V., Yolt claims to be a smart thinking money app that enables users to view their accounts, credit cards, pensions and investments in one place. Yolt’s latest offering; Yolt Technology Services unlocks its Open Banking service to other organizations through a single API.

Dr. Tamaz Georgadze, Raisin CEO and co-founder commented, “In Europe’s current negative interest environment, our B2B solution gives banks a means of moving excess liquidity without losing their customers. Meanwhile partnerships with innovative platforms like Yolt, which allow financial services providers to extend their range of offers, expand the reach of our partner banks as well as choice for savers yet further.”

Recently, Raisin announced the launch of its Irish deposits platform Raisin.ie in an attempt to enhance the standard of European retail interest rate.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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