Raisin 海角视频, the online savings marketplace, is celebrating its final and most successful quarter-to-date by revealing its £1bn 2020 targets.
Launched last year in the 海角视频, the German-founded disruptor, has its sight firmly set on the 海角视频 savings market, with the Manchester-based arm of the business welcoming five new banks to the platform including OakNorth, Wyelands, Aldermore and Cardiff based, Hodge Bank.
Launching notice accounts earlier this year, the online marketplace now offers different savings accounts from over 13 banks, with many more due to join the platform in early 2020.
Discussing the business’ 2020 targets, Raisin 海角视频 CEO, Kevin Mountford. “This year has been significant for us laying down a strong foundation to achieve our £1 billion targets next year.
"From tech partnerships with leading money management apps Yolt and Monese, we’ve also developed strong distribution partnerships with 海角视频 market leaders Legal & General and ClearScore.
“Since our launch, we’ve seen changes in the market that are driving a savings-savvy consumer that is driving a highly competitive market. Consumers are now actively seeking out better rates and locking their money away for longer periods than ever before.
"Over the last six months, we have seen a 6% uplift in customers choosing fixed-term savings accounts over 12 months, which has been increasing MoM which we predict will continue to grow well into 2020.
“Our own focus, for next year, is to scale the business with the launch of new products, such as Easy Access savings accounts, to widen the platforms appeal to a broader consumer.
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"We also have a healthy stream of banks that we are onboarding onto the platform and some really exciting distribution partners that we should be launching in Q1”
Kevin said convenience is also proving to be a big attraction to 海角视频 savers.
Customers only ever fill out one online application and identity check, after which they can open and manage multiple savings products across a range of banks with their single secure login.
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Kevin continues: “The Raisin 海角视频 marketplace has really struck a chord with consumers – a tech solution that simplifies the account opening process and in turn saves them time and money, which has seen the platform go from strength to strength.”
To date, across Europe Raisin has brokered 18 billion Euros, and has 225,000 customers across 31 European countries on Raisin’s seven platforms.
"With 87 partner banks, Raisin offers by far the largest variety of products and partner banks of all savings platforms and allows customers a wider choice and freedom of choice.