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HomeFinTechOpen Banking Cooperation: Sparkasse KölnBonn Relies on FinTech Raisin

Open Banking Cooperation: Sparkasse KölnBonn Relies on FinTech Raisin

The partnership between Sparkasse KölnBonn (website) and FinTech Raisin (website) goes into the next round. Customers of the Sparkasse can now conclude overnight and fixed-term deposits with Raisin via their advisor and view them directly in online banking. This is possible thanks to an API solution developed as part of an open banking partnership between Raisin and Wallis. The first user of the integration is Sparkasse KölnBonn.

Interface and FinTech specialist Wallis (part of the S-Finanzgruppe) developed its API-based integration for the solution, which connects Raisin’s offerings directly to the savings banks’ official IT platform OSPlus (One System Plus). As Raisin is currently working with more than 20 savings banks across Germany, Sparkasse KölnBonn could be the first of many more users to rely on the solution.

The solution facilitates the conclusion of savings products available via Raisin with the institute’s more than 1,000 advisors. Savings bank customers would thus be able to invest their savings via Raisin at selected partner banks in Germany and Europe. This would enable them to earn attractive interest rates on overnight and time deposits. Conclusion interest-bearing savings products with trusted financial advisors strengthen customer loyalty, while the digital solution significantly reduces the onboarding effort.

“Being close to our customers is a top priority for us and constantly spurs us, as well as our partners, to innovate. By technically connecting Raisin’s offerings, we are strengthening our digital offering. We offer our customers a simplified product selection while making the closing process easier for our employees.”Volker Schramm, Member of the Board of Management of Sparkasse KölnBonn.

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