Greek digital lender Praxia Bank has tied up with fintech firm Raisin to offer deposit products in Germany through the latter’s marketplace.
The initiative will be carried out via Raisin’s German deposits platform WeltSparen.
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Praxia was set up in 2018, with a full launch anticipated at the end of this year.
It plans to mainly offer such products that keep up with existing trends in the digital space.
In selecting Raisin, Praxia’s aim was to cash in on the operational flexibility of the cross-border marketplace.
The move is said to be a core element of the digital bank’s strategy.
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By GlobalDataPraxia Bank CEO Anastasia Sakellariou said: “As we approach the launch date of a range of products and services for our corporate and retail clients in the fall of 2019, we have opted to reinforce our deposit base through Raisin’s platform.
“This enables Praxia Bank to become a key player in the global financial market offering our products beyond the Greek borders in line with the current trends set by pioneering banks in Europe.”
Last week, credit checking service ClearScore also partnered with Raisin.
The alliance enables ClearScore customers to apply for and manage savings accounts with partner banks of Raisin through Raisin UK marketplace.
