“ The story of Raisin is very much the story of the rise of the savings marketplace and marketplace solutions ”
assisting banks to raise retail deposits across Europe . He explains : “ That company grew well but , around late 2016 , we recognised the need to change the business model and also at the same time , to seek funding opportunities .
“ Coincidentally , around then I ’ d had several meetings with the Group CEO and some of the team at Raisin . I was aware that they were keen to build a presence in the UK and I could already sense that they and their business model were gaining real momentum in the wider marketplace ,” he continues . “ But , it ’ s also a business that ’ s based very much around people and , within that , there was the clear B2C aspect with the aim of being a real consumer champion in the cash savings space .”
Mountford elaborates on the Raisin model : “ It ’ s a very solution-minded approach ,” he explains . “ Today , Raisin has more than 90 partner banks on board – in the UK we work with Starling Bank , for example , and another company called Meteor Asset Management ; we have 14 banks in total and more than 40 products . As for how our technology works differently for savers , if you look at the pre-Raisin world you see an environment where customers mainly interact directly with their core banks , albeit with some exceptions for things like credit cards or loans . We wanted to provide something very different to this in the UK , and indeed more broadly across Europe . The model is very simple ; we allow customers to make a single application , run a single regulatory check and deposit their money , which they can then deploy across a number of banks and products .
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