BinckBank and Raisin double up for Dutch savings market
BinckBank says it will be the first in the Dutch banking sector to offer its clients access to European savings products via its cooperation with Raisin.
The bank has launched a new product “Binck Savings” (in Dutch: Binck Sparen), enabling Dutch savers to deposit funds with selected European partner banks that offer “attractive” interest rates on their term deposits. Customers can directly deposit funds online via a single account at Binck Savings.
Vincent Germyns, CEO of BinckBank, says its product is a “perfect alternative for the saver struggling with the current low interest rates”.
It is not the first time that Raisin has integrated its service into a third-party provider via open banking.
In 2017, German mobile bank N26 was the first to integrate Raisin’s service. Raisin says it is also the first company that was authorised to join BBVA Connect – a service that allows its customers to access third party services by using their existing login credentials. Raisin is also currently testing single sign-on access for German customers with Verimi.
Incidentally, FinTech Futures was recently invited for a tour of Amsterdam’s fintech scene. BinckBank was one of the firms we met.
