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Payments General

Starling closes banking-as-a-service partnership with Raisin UK

Monday 6 August 2018 | 11:02 AM CET

Starling has announced signing banking-as-a-service partnership with deposit marketplace Raisin UK.

Through the partnership, Raisin UK will be able to use Starling’s API to open Starling accounts for its customers, collecting deposits and distributing them via its savings product partners. Previously, the company could only collect deposits in the name of its partner banks, meaning customers did not have individual accounts with Raisin.

Raisin UK is the British arm of a German fintech that plugs users into savings products across Europe. Launched in 2013, Raisin has processed over EUR 7 billion of savings deposits to date, boasting more than 130,000 customers across Europe. Starling’s banking-as-service suite allows third parties to offer services such as retail banking payments and card issuing – without being a regulated entity.

In time, it is suggested that Starling customers will also be able to access Raisin UK’s deposit marketplace via the Starling marketplace.

More: Link
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