Raisin Studies Topping UK Development Goal in Spite of COVID

Raisin, a European Fintech that leverages open banking to supply a deposit market, says progress within the UK has topped expectations despite the continued COVID-19 well being problem. Raisin claims it’s going “in opposition to pattern” and has handed its 2020 annual progress goal of £1 billion in deposits throughout Q3.

Raisin says that some European Fintechs are exiting the UK following Brexit but it surely continues to carry out nicely. Raisin not too long ago launched a brand new cooperation with FTSE 250-listed funding platform AJ Bell, which is increasing its “Financial savings as a Service” provide to UK-based monetary service suppliers.

Raisin leverages a white label mannequin that allows associate platforms to supply a financial savings market with out constructing their very own again finish. The partnership with AJ Bell is emblematic of its service.

Raisin VP Europe and Chair of Raisin UK Katharina Lueth commented:

“Raisin’s purpose is to create a European champion with its market for monetary merchandise. From the beginning we’ve got thought of the UK a vital a part of Europe, as our response to Brexit demonstrated. Following the Brexit referendum we acquired a UK-based fintech and launched Raisin UK two years in the past. Now we have not doubted the significance of the market or our dedication to UK progress for a second since, and we’re proud to see the acceptance of our enterprise mannequin by UK monetary establishments and shoppers alike.”

Raisin UK co-founder Kevin Mountford, stated the service methods have seen an increase in a number of key industries during the last 18 months and embedded banking companies are one of many fastest-growing.

“With the present world panorama altering nearly each day, there may be an growing demand from shoppers on the lookout for a greater fee of return on their cash, and the brand new Financial savings as a Service proposition permits current gamers available in the market to diversify their providing rapidly to fulfill this demand. We’re actually enthusiastic about our newest partnership with AJ Bell and sit up for serving to the enterprise to ship invaluable services to its clients.”