SBM magazine / 11-2018

CEE18 INSIGHTS & TAKEAWAYS
DEPOSIT MARKETPLACE FOR SMES —
ACCESS TO SAVINGS PRODUCTS ACROSS EUROPE
Raisin is a leading fintech
company in Europe,
established 5 years ago, based
in Berlin.
During the CEE SME Banking Club
Conference 2018 in Warsaw
(October 29-30), Lisa Schmid (Head
of Business Clients at Raisin) presented
the Raisin platform and how banks can
digitalize the customer experience when
placing a deposit.
Here we publish key messages of Lisa’s
presentation.
Through Raisin, more than 60 banks across
Europe access funding in a diversified and
cost-efficient manner. The business concept is
to connect private customers and SMEs with
partner banks for term and overnight deposits.
Business model
“We have a Partner bank and it has only one
interface, which is Raisin. They decide where
they want to place their deposit offers: country
platforms and pan European platform (Raisin.
Lisa Schmid (Raisin) during her presentation at the CEE
SME Banking Club Conference 2018 in Warsaw (October 29-30)
com). The partner bank can also place its offer
with distribution partners (so that their term
deposit offer is available for, e.g. BBVA clients or
N26 clients, etc.)” Lisa said.
Raisin products
• Partner banks can decide whether they want
to offer their products to retail customers or
SMEs, or both
• The main products are term deposits, notice
accounts and overnight deposits
• Available currencies: EUR, GBP, USD. Some local
currencies are also available: NOK, CHF, BGN.
Steps to open a deposit for an SME customer
via Raisin:
1. Registration on the Raisin platform.
The customer should sign up using data of
the company, managing director and main
beneficial owners.
2. Deposit selection. The customer has
access to all partner bank term deposits and
chooses the banks, term, interest rate and
the amount they want to deposit. It’s only
takes a few clicks.
3. Identification. Servicing bank performs the
identification of the director, company and
main beneficial owners.
4. Transfer of funds to the Raisin account,
which is opened for free.
5. Deposit opening at Partner bank. During
this last step, Raisin forwards the account
opening documents and funds to the
partner banks. After maturity, the partner
bank pays the deposit back. Then the
customer can access the funds, including
earned interest on the Raisin platform, and
invest it somewhere else or withdraw it to
the personal account.
Notes made by Olena Gryniuk
How Raisin supports banks:
• Acquiring the needed stable funding.
This is a typical product partnership
when a bank wants to place a certain
number of products on the platform.
Raisin handles customer acquisition,
customer onboarding, KYC processes
and customer service for the bank.
• Managing banks’ excess liquidity. If
banks want to get rid of their liquidity,
they can integrate Raisin partners’ term
deposit offer in to their online banking,
making it possible for clients to deposit
their funds with Raisin partner banks
Among others, N26 and BBVA have
become distributor partners.
• Optimizing costs, regulatory compliance
and diversification.
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NOVEMBER 2018