Raisin Bank has decided to move all its banking services at one place to provide its customers uniform range of service across Europe.
Previously, customers across Europe had to open a service account with Belgium-based Keytrade Bank to sign up with Raisin.
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The consolidation of the service will allow customers to access to their deposits through Raisin Bank directly.
In effect, all European Raisin customer accounts are now transferred from Keytrade Bank to Raisin Bank in Frankfurt, Germany.
Moreover, the bank has already begun providing service accounts to its customers in Germany, Austria and Ireland.
In the UK, Raisin Bank is providing holding accounts to its customers in collaboration with Starling Bank, a mobile-only challenger bank.
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By GlobalDataLast year, Raisin’s wealth business acquired MHB Bank and renamed it as Raisin Bank, which presented opportunities for the fintech to expand its value chain and streamline its banking processes.
Raisin Europe VP Katharina Lüth said: “The now complete transfer of customer accounts from Keytrade Bank to Raisin Bank is a logical consequence of the takeover of Raisin Bank last year.
“Going forward, our customers – as well as our partner banks and other business partners – will receive all their services consistently and from a single source.”
Keytrade Bank is a Belgian arm of Arkéa Direct Bank, which is again a part of Crédit Mutuel Arkéa.
It has been contributing towards Raisin’s growth in Europe providing holding accounts to its customers.
Raisin Bank has so far garnered €23.5bn in deposits from over 265,000 customers across 28 European countries and 94 partner banks.
