Raisin cooperates with British insurer

The Berlin fintech is exporting its World Savings concept to more and more customers; there are already three major cooperations in the UK alone.

German fintech Raisin is helping UK insurance giant Aviva launch its interest rate portal Aviva Save. Raisin made the announcement on Friday. "The launch of Aviva Save with Raisin's Savings-as-a-Service marks a forward-looking step for fintechs," said Katharina Lüth, vice president responsible for Raisin's European business, on the occasion of the launch. Cooperations between fintechs and corporations are increasingly reaching the mass market, she added.

Through Aviva Save, the insurer's 15 million customers can select fixed-rate savings products from a range of banks. The London-based group hopes to respond to the changing savings patterns of Britons. "According to our own survey, more than half of UK citizens saved more during the last lockdown" said Roger Marsden, managing director for Retail Savings & Retirement at Aviva.

The offering is thus similar to Raisin's own platform, Weltsparen. The Berlin-based start-up also offers savings products from various banks there. Aviva is not the first group to use Raisin's Savings-as-a-Service infrastructure for its own portal. In the UK alone, Raisin has already won financial services providers Willis Owen and AJ Bell as customers.