Commerzbank has partnered with Fintech Raisin to provide the first deposit portal for corporate clients in Germany. Raisin, in a release, said that their service has gained in popularity with consumers and now corporate clients are jumping in.
Commerzbank is Germany’s largest bank in the corporate clients segment. The partnership with Raisin, doing business WeltSparen in Germany, as will gain access to selected offers of deposit rates “significantly above market levels.”
Raisan said that in addition to Commerzbank’s own products, corporate clients can now benefit from 3-month to 4-year term deposit offers from select German partner banks. To start with, the cooperation is focused on limited liability corporations and will be gradually expanded to include further legal entities.
“Just as interest rates have fallen for retail savings products, rates on corporate deposits have also decreased and in some cases are yielding negative returns. With this collaboration Commerzbank’s corporate clients will be able to invest beyond the bank, securing rates well above the current market level in Germany,” commented Dr. Daniel Berndt, Raisin’s Chief Client Officer.