Fintech bank and smart payments provider, Credorax has secured a new partnership with savings marketplace Raisin.
The deal focuses on Raisin’s German platform (WeltSparen) and marks the launch of Credorax’s first banking products in the region.
“Partnering with Raisin is a great opportunity for Credorax. As the payments and banking sector rapidly evolves in Germany and across Europe, this unique partnership allows us to expand our offering on the continent to include deposits,” said Igal Rotem, CEO at Credorax.
“Entering the savings market both extends our range of products and services and enables us to continue building our capacity to support more European merchants with our payments technology.”
WeltSparen will now act as ‘the portal to feature the payments specialist’s new products’ aimed at helping retail customers search for the best savings opportunities.
The agreement ‘points to the future of finance’ by bringing together two cross-border financial services as Raisin improves its product portfolio for customers and Credorax boosts its banking offerings.
Dr. Tamaz Georgadze, Raisin CEO and co-founder, elaborated: “Making Credorax’s first deposit products available exclusively to our customers in Germany is a win for Raisin and for German savers looking for competitive yields on their deposits.
“By facilitating investing anywhere in Europe, we’re providing customers with a solution to the persistent low-interest environment in Germany.”
“With this partnership we can create an opportunity for Credorax within the smart payments sector to diversify their funding base and take another step toward the new cooperative fintech economy — one built on specialization and partnerships like this.”