Raisin provides a private bank with its deposits solution

Open banking platform Raisin is supplying its deposits platform to Germany Bankhaus Hauck & Aufh?user as part of a new deal.

This partnership will enable clients of Bankhaus Hauck & Aufh?user to access third-party deposit products, which gives them higher yield alternatives for cash deposits.

Raisin stated this is the first time it has partnered with a private bank to let customers invest up to single-digit million euro amounts into guaranteed deposits. Clients wishing to take advantage of the offering will be assisted by their advisor at the bank.

All of the Raisin savings products are protected by respective national deposit guarantee schemes.

Dr. Holger Sepp, a member of the Bankhaus Hauck & Aufh?user management board, said, ?The cooperation with deposits marketplace Raisin offers our customers another opportunity to achieve an interest rate on their liquidity holdings well above market average. It was important to us that the integration of this partner offering be simple and intuitive, and that we give our customers a familiar experience, all from a single source.p>

Earlier in the year, Raisin acquired Choice Financial Solutions so it can offer US banks and credit unions the ability to create flexible deposits.

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