European fintech expands to the US deposit market

Raisin is adapting the concept of European success to the demands of the American banking environment

the US deposit market

European fintech expands to the US deposit market. Source: shutterstock.com

Raisin announced the acquisition of software company Choice Financial Solutions. This way, the US deposit market is expected to become more beneficial. American banks will get a license, allowing them to create flexible deposits and offer products directly to their own customers, or via the Raisin US platform to all US retail consumers.

The fintech company ensures its banking partners will be able to provide current and new customers with original new products, starting with the range of deposits enabled by Choice FS software.

Joining forces with Choice Financial Solutions lets Raisin begin offering cutting-edge services to banks and customers before we even launch our US platform. Retail consumers increasingly expect convenience in every area of life, and banks today want to meet that demand, not just in terms of online and mobile banking, but also their banks’ available range of products. As a leading innovator in the deposits space, Raisin sees Choice FS as a perfect fit for our mission in the US deposits market. The enthusiastic market feedback we have already received affirms how ripe the savings space is for just this type of personalization
Paul Knodel, Raisin US CEO 

Back in 2010, Choice FS has developed a software solution for banks and credit unions. It allows savers to create customized deposit accounts based on their personalized needs.

Along with that, while clients can personalize their deposit accounts in real-time, banks are able to define and launch new product offerings with the software in a few hours.

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