Savings and investment platform Raisin has expanded into the Nordic region with the launch of its service in Finland.
With internet banking penetration exceeding 95% and retail deposits over €115bn ($125bn), Finland is said to be a significant market for Raisin to launch European savings products.
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The Raisin platform streamlines the process for customers to compare and open deposit accounts from various European banks, all accessible with a single login.
To date, Raisin has facilitated over €70bn ($76.1bn) in deposits.
Raisin CEO and co-founder Dr Tamaz Georgadze said: “Our mission is to break down financial barriers and unlock better interest rates for everyone.
“This launch marks an important step in bringing our vision to a new market and giving Finnish consumers the platform they need to make their money work harder.”
Raisin collaborates with banks that comply with EU financial regulations. Furthermore, deposits are covered by the EU-wide harmonised deposit guarantee schemes, safeguarding up to €100,000 per customer per bank, or an equivalent amount in local currency.
At launch, the Finnish platform will work with BlueOrange in Latvia, EuroExtra in Germany, and Rediem Capital in Sweden.
These alliances are considered essential for Raisin’s strategy to provide high-yield savings options customised to Finnish consumers’ preferences.
In December 2024, Raisin teamed up with Salt Edge, a financial API platform, to enhance compliance with UK regulations and deliver secure financial solutions.
Operating globally in the EU, UK, and US, Raisin promises “competitive interest rates” and a variety of banking products, connecting banks with retail clients for scalable funding.
