Dr. Daniel Berndt, Raisin’s Chief Client Officer

Berlin-based fintech Raisin’s savings platform WeltSparen has partnered with Commerzbank with an aim to address the bank’s corporate clients in Germany.

The partnership is expected to enable Commerzbank in providing exclusive access to its corporate clients along with deposit offers from chosen German banks.

“Just as interest rates have fallen for retail savings products, rates on corporate deposits have also decreased and in some cases are yielding negative returns. With this collaboration Commerzbank’s corporate clients will be able to invest beyond the bank, securing rates well above the current market level in Germany,” explained Dr. Daniel Berndt, Raisin’s Chief Client Officer.

According to the supplier, the partnership will feature fixed-term deposits from German credit institutions such as GRENKE BANK, NIBC BANK and GEFA BANK. The deposits will be managed centrally via WeltSparen by the respective banks.

Recently, Raisin acquired Frankfurt’s MHB Bank in a bid to expand its areas of operation as well as its value chain. The UK division of Raisin announced a partnership with UK’s credit checking service ClearScore in a bid to integrate into ClearScore’s website and mobile applications, thereby providing Clearscore’s customer base with access to the Raisin UK marketplace.

Established in 2012, the Berlin-based Raisin is an open banking platform with partnerships with more than 70 banks. With Raisin, customers can choose savings and investment products from banks across the continent, and banks can easily attract deposits from customers abroad.

Established in 1870, Commerzbank is an international commercial bank with branches and offices in almost 50 countries. In the two business segments Private and Small Business Customers and Corporate Clients, the Bank offers a comprehensive portfolio of financial services and finances approximately 30% of Germany’s foreign trade and is one of the finance providers for corporate clients in Germany.

by Megha Bhattacharya
Market Analyst at IBS Intelligence