Digital asset manager Scalable Capital announced on Friday it has formed a new partnership with European cross-border savings platform Raisin. According to Scalable Capital, customers with a portfolio account at Baader Bank can invest in fixed-term deposits with select European banks as part of a white label solution by Raisin that offers a choice of more than 20 different savings products.
“The new service can be accessed via Scalable Capital’s website and apps. This complements Scalable Capital’s existing wealth management service with Raisin’s partner banks, whose products in some cases significantly exceed the current average interest rate level. For German consumers, Raisin is best known under the brand WeltSparen.”
While sharing more details about the partnership, Florian Prucker, Co-Founder and Co-CEO of Scalable Capital, stated:
“We are complementing our offering with products that can provide attractive returns without the risks of the capital markets. In addition to our automatically managed ETF portfolios for long-term wealth accumulation, our clients can now easily deposit their funds in European fixed-term accounts. We are happy to be working with Raisin. The founding spirit and business model fit together perfectly on both sides. The partnership is ideal for giving our clients access to fixed-term deposits throughout Europe.”
Dr. Tamaz Georgadze, CEO and Co-Founder of Raisin, went on to add:
“We stand for saving and investing without barriers and want to make the best offers available to consumers, particularly in the current low interest rate environment. This is why we are pursuing integration partnerships, enabling our partners to expand the range of products they offer. Especially considering better risk diversification and flexibility, fixed-term deposits offer Scalable Capital’s customers a high added value – convenient and easy to access, with a smooth, comfortable user experience.