Raisin, whose UK business is part of FinTech Alliance, is set to merge with Deposit Solutions.
In Brief:
Both the German FinTechs will form Raisin DS.
This will be a pan-European business.
The businesses were both offering a similar platform that enables customers to find the right savings products for them.
What does this mean?
The new entity will bring together approximately 400 banking partners and more than 500 staff. The businesses have reportedly dealt with a lot of duplications of their products and so are keen to work together rather than compete.
