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More banks set to join platform as it launches in Ireland

Sam Monk | 09:00 Wednesday 2nd October 2019

Three more banks are set to join deposit marketplace as it announces its entry into Ireland.

Since its launch in 2013, Raisin deposit platforms have surpassed €16bn in total brokered volumes, in addition to delivering over €115m in interest.

The new savings platform for Irish savers is the first launched as a collaboration between Raisin Bank and fintech Raisin.

"As you can imagine, we are very excited about opening up the Irish market to new offers from partner banks from across Europe,” said Alejandro McCormack, business development manager for the Irish market at Raisin (pictured above).

“There are currently 26 products available on [and] given the number of banks that are interested in the market, we see this number doubling in the following months with at least three more banks slated to join the platform in the short term.

“By increasing transparency and choice for Irish savers, provides the opportunity for them to increase the return on their deposits, while also introducing these banks to a market that is hungry for more options when it comes to their savings."

Dr Frank Freund, chairman of the supervisory board at Raisin Bank and co-founder of Raisin, added: “Raisin Bank is enlarging its focus on fintech and digital banking, areas driving the customer-centric direction of retail banking today.

“With the marketplace, Raisin Bank is enabling Irish customers to significantly increase their profits on deposits by connecting them in a simple, transparent way to competitive offers on the continent.”

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