Raisin UK teams up with Salt Edge to enhance open banking compliance

By Gloria Methri

Raisin, a global savings and investment platform, has partnered with open banking innovator Salt Edge to strengthen its compliance with UK regulations and ensure seamless financial solutions for customers.

Raisin operates globally across the EU, UK, and US, offering customers access to competitive interest rates and a diverse selection of banking products. By connecting banks with retail clients, Raisin also provides access to sticky, scalable retail funding.

To enhance transparency and accessibility in financial services, Raisin chose Salt Edge to deliver scalable solutions for regulatory compliance and business growth for its UK platform. Salt Edge’s Open Banking Compliance solution helps Raisin meet FCA regulatory standards, ensuring top-tier security, transparency, and data protection for its customers.

“We are thrilled to collaborate with Salt Edge to enhance our ability to deliver seamless, secure, and compliant financial services for our UK platform,” said Alexa Lloyd-Owen, Head of Compliance UK at Raisin. “This partnership enables us to continue breaking down financial barriers for customers while adhering to the highest standards of open banking compliance. By leveraging Salt Edge’s robust platform, we can drive innovation and growth, bringing more value to our retail customers and partner banks.”

In addition to meeting open banking requirements, Raisin utilised a full-stack toolkit to maximise regulatory opportunities. This includes a dedicated environment for Third Party Providers (TPPs) to integrate seamlessly, with first-line support managed by Salt Edge. The toolkit also features a client dashboard for performance monitoring and a TPP verification system to control and secure access to data.

Dan Martalog, Senior Open Banking Solutions Expert at Salt Edge, said, “The regulatory landscape is evolving rapidly, and keeping up with these changes can be challenging. Thus, we are thrilled to partner with Raisin, supporting them in achieving open banking compliance and meeting the strict regulatory requirements at pace, all while delivering secure and top-tier financial services to their customers.”