Deposit Solutions and Raisin Merge to Form Raisin DS
- Open Banking
- 25.06.2021 10:30 am
FinTech companies Deposit Solutions and Raisin have announced the completion of their merger. After over a year of preparation, the two companies are forming Raisin DS, a pioneer in the savings and investment market, servicing banks and consumers on both sides of the Atlantic. The merger only needs to be registered in the commercial register.
Deposit Solutions is the leading B2B Open Banking platform in the savings deposit space. The company operates deposit marketplaces for over 150 partners, including large institutions such as Deutsche Bank, and connects them with deposit-taking banks from all across Europe. Raisin is the leading pan-European B2C platform for savings and investments. Raisin’s marketplaces offer consumers simple access to competitive deposit products from all across Europe. In Germany, the FinTech company also offers globally diversified, cost-effective ETF portfolios and ETF-based pension products.
As Raisin DS, both companies will now be able to unite the best-in-class B2B offering and Europe’s leading B2C savings marketplaces under one roof.
A union to further democratize access to savings and investments
By joining forces, Deposit Solutions and Raisin are maximising the benefits for all market participants. For savers, the merger means more product choice and decision power, incumbent banks will benefit from more implementation options and product access for their own marketplaces, and deposit-taking banks will receive better access to deposit funding.
“Deposit Solutions and Raisin have brought important innovations to a market that has been underserved for decades. Together we can achieve even more," said Dr. Tim Sievers, CEO and founder of Deposit Solutions. “By uniting Deposit Solutions and Raisin, we’re transforming two German innovation leaders into the European champion with global ambitions."
“Raisin DS is breaking down barriers and reinforcing our long-time vision for a single transparent market for savings and investment products. We want to contribute to a financial system that better serves day-to-day financial needs of people and enables banks to provide a stronger backbone to the real economy,”added Dr. Tamaz Georgadze, CEO and co-founder of Raisin. “We will continue to strive to make a positive contribution to the financial system.”