N26 and Raisin to offer high interest rate accounts in the German market
By Megha Bhattacharya
European FinTechs N26 and Raisin have expanded their collaboration to address the low-interest rate issue in the German market. The partnership is expected to allow N26 to extend its product portfolio with overnight deposit provider EasyFlex Savings, with an interest rate of 0.21% p.a.
“With our new partner offer, N26 and Raisin are excited to give millions of customers the opportunity to flexibly invest their savings at one of the best available interest rates on the market. Having continuously developed over the past several years, our cooperation proves once again that mobile banking and pan-European investment are a win-win for everyone,” explained Benedikt Voller, Raisin VP Business Clients and Partnerships.
According to Raisin, the deposit products on its German platform are made available through N26’s EasyFlex Savings include the competitive 0.21% overnight account at Norwegian Komplett Bank, with a minimum investment of €500.
N26 General Manager DACH and Northern Europe Georg Hauer added, “With EasyFlex Savings, our customers can now make even more out of their money – digitally, securely, and at no cost. We are very pleased to further expand our long-standing partnership with Raisin with this offering. Together, we want to show that saving is worthwhile even in this time of zero interest.”
Recently, Aviva announced the launch of a new cash savings platform Aviva Save in a bid to offer customers a choice of different savings accounts from a variety of banks. Aviva has partnered with savings platform Raisin UK, enabling it to offer its customers a selection of fixed-term savings accounts with a number of banks. FinTech Raisin leveraged its Savings as a Service technology to launch Aviva Save, allowing the pension and investments specialist to enter the cash savings market for the first time in the UK.
N26 also recently expanded its Allianz Assistance travel insurance included with N26 You, N26 Business You, N26 Metal, and N26 Business Metal to cover epidemic and pandemic related claims. The company stated that trips starting on 19th January or later will cover cancellations as well as emergency hospitalisation or medical treatment abroad, repatriation assistance and cancelled/interrupted trips.
IBSi Daily News Analysis
May 17, 2022
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