Savings and investment FinTech Raisin has migrated its banking platform onto ClearBank.
In Brief:
ClearBank is an embedded banking business which will underpin Raisin’s UK accounts.
Raisin UK customers will be able to manage money in their accounts which are now FSCS protected.
Being part of ClearBank’s platform means Raisin benefits from aspects like Faster Payments and Confirmation of Payee.
What does this mean?
Raisin has been growing from a savings platform to an account UK customers can use to save and invest their money across a plethora of options. It says it’s now focusing on scaling through new customers and partners and needed an embedded banking solution to help match this scale and speed.
