Banca Ifis expands into Germany with Raisin’s partnership
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Italian bank Banca Ifis announced a partnership with FinTech Raisin in a bid to expand into the German savings market. The partnership will allow customers of Raisin’s German platform WeltSparen to leverage Banca Ifis’ deposit products. The Bank will be able to extend its services into Germany, thus improving its funding streams. Banca Ifis becomes Raisin’s 94th partner bank on its pan-European marketplace.
“We have decided to offer a new, qualified gateway to Banca Ifis’s deposit accounts with a cross-border operation which confirms our group’s position as an innovator in specialized finance,” commented Luciano Colombini, CEO of Banca Ifis. “As a result of this agreement, we will expand our customer base of savers, further strengthening our liquidity ratios using leading infrastructure in European banking, as well as expanding our funding to include foreign markets with the new channels created by Raisin.”
Recently, European FinTech Klarna entered into a collaboration with Raisin in Germany. The development marks Klarna’s expansion into the German savings market. The partnership enables the German FinTech’s customers to access Klarna’s products exclusively.
“In bringing Banca Ifis’s deposit products to German consumers we’re expanding access to new offers for their savings, particularly relevant in the face of persistent low rates in Germany,” said Massimo Monzio Compagnoni, Raisin Senior Associate Bank Partnerships. “Thanks to the European Union norms, Raisin has created a ‘Schengen experience’ for finance, enabling both banks to diversify their funding in other European nations and savers to look beyond their own borders for choosing deposits. In embracing the advantages of open banking technology and welcoming Banca Ifis to the Raisin marketplace in Germany, we’re able together to extend the benefits of cross-border finance.”
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