Raisin, a platform for financial savings and investments, has partnered with open banking Fintech Salt Edge to strengthen its compliance with UK laws, guaranteeing safe monetary options for shoppers.
Raisin operates throughout the European Union, UK, and US, providing clients entry to “aggressive” rates of interest and a various number of banking merchandise. By connecting banks with retail shoppers, Raisin offers entry to sticky, “scalable retail funding.”
To reinforce accessibility in monetary companies, Raisin selected Salt Edge as a associate to ship options for compliance and development for its UK platform.
Salt Edge’s Open Banking Compliance resolution helps Raisin meet FCA regulatory requirements, guaranteeing “safety, transparency, and information safety for its clients.”
Alexa Lloyd-Owen, Head of Compliance UK at Raisin, stated by leveraging Salt Edge’s platform, they will drive innovation and development.
Along with assembly open banking necessities, Raisin utilized “a full-stack toolkit to maximise regulatory alternatives.”
This features a devoted surroundings for Third Occasion Suppliers (TPPs) to combine seamlessly, with “first-line help managed by Salt Edge.”
The toolkit encompasses a shopper dashboard for efficiency monitoring and a TPP verification system to “management and safe entry to information.”
Dan Martalog, Senior Open Banking Options Skilled at Salt Edge:
“The regulatory panorama is evolving quickly, and maintaining with these modifications may be difficult. Thus, we’re thrilled to associate with Raisin, supporting them in attaining open banking compliance and assembly the strict regulatory necessities at tempo, all whereas delivering safe and top-tier monetary companies to their clients.”
As coated, Raisin is the platform for financial savings and funding merchandise.
Based in 2012, the fintech connects shoppers “with banks within the EU, UK, and US.”
This implies they obtain higher rates of interest, and banks obtain “protected and low cost refinancing.”
Raisin’s imaginative and prescient is to supply financial savings and investments with out obstacles and thus faucet into the “world +140 trillion euro market.”
Raisin reportedly employs over 700 folks worldwide from “over 65 international locations.”
The platform manages greater than 70 billion euros from direct clients who’ve earned “over 2 billion euros in curiosity by means of financial savings merchandise alone.”
As famous within the replace, Salt Edge is a monetary API platform with PSD2 and open banking options for each enterprise.
The corporate has two major vectors of exercise: enabling third events “to get entry to financial institution channels by way of a unified gateway and growing the expertise crucial for banks to turn out to be compliant with the directive’s necessities.”
