In a financial world still dealing with near-zero interest rates – and less – word that Spain-based financial resource platform Finect has partnered with savings-as-a-solution innovator Raisin is great news for Finect’s two million plus users.
“Spanish families have accumulated a record figure of almost €900,000 million in bank deposits, but not always with a meaningful return. In fact, in many cases, they don’t even earn interest,” Finect CEO Antonia Botas explained. He called the partnership with Raisin part of Finect’s “broader objective: to bring the best products and services to Spanish savers, following the launch of our fund platform in July.”
Finect offers a way for consumers to shop for a wide variety of financial services and products. More than 10,000 savers have used the platform to find and request a financial advisor, and 100+ national and international investment firms leverage Finect’s platform to connect with clients and grow their businesses. Courtesy of the partnership with Raisin, Finect users will have access to 60+ deposit products from Raisin’s European partner banks, and give users the ability to earn as much as 1.41% on their savings.
“With the increase in savings volume since the start of COVID-19 pandemic, creating access to better savings options with higher yields is more important than ever,” Raisin Spain Country Manager Miguel Freire said. “Finect and Raisin share a mission to use digital technology to provide people in Spain with not only more information, but also more competitive options.”
German fintech Raisin, which began operations in the United States over the summer, began the year with the news that it has topped the €20 billion in deposits mark. Founded in 2012, Raisin has more than 280,000 customers across Europe, and more than 98 partner banks.
A Finovate alum since making its debut at FinovateFall in 2013, Finect was founded a year before, and is headquartered in Madrid, Spain.