TBI Bank extends on the banking market in Germany

TBI Bank announces the expansion of its operations in Western Europe through the launch of digital deposit products on the German market in partnership with German fintech company Raisin.

Following Federal Financial Supervisory Authority (BAFin) approval for TBI Bank to conduct banking business in Germany, German residents can access fixed-term deposits from TBI Bank directly on the Raisin online marketplace for savings and investment products.

“Improving the digital banking experience for our clients is a key development priority for TBI Bank. We aim to provide easy-to-use digital solutions that respond to proven market needs and that consumers can seamlessly integrate in their lives. The partnership with Raisin will speed up the bank’s digital transformation, making it possible to work together to analyse and manage new business opportunities in Germany”, said Lukas Tursa, SVP and Head of Funding of TBI Bank.

TBI Bank joins Raisin, the European savings deposit marketplace

In 2017 TBI Bank launched its purely digital channel for attracting deposits in Romania. “We see very positive response and interest for online deposits – our customers appreciate the convenience and safeness of the solution in addition to the attractive interest rates we offer”, said Denis Caciula, Head of Deposit Management at TBI Bank in Romania.

TBI Bank now targets the biggest savings market in Europe by providing German residents a smooth and secure digital way to deposit their savings. At the same time, TBI Bank further diversifies and optimizes its funding resources, insuring an improved finance management experience and attractive returns to customers across all countries it operates in.

Raisin has been using its online platform for deposit collection to act as an intermediary between individuals seeking the highest possible return on their savings and banks from all over Europe seeking to diversify their funding streams and optimize their funding costs. The advantage for the customers – all deposits provided on the platform are guaranteed up to 100k EUR under the Deposit Protection Schemes governed by the EU member states where the partner banks originate from.

For 5 years of operation, Raisin has attracted over 6 billion euros in fixed-term deposits, has on-boarded more than 50 European partner banks and has an active end user base of 120 000 customers residing in the biggest European markets – Germany, Austria, UK, France, Netherlands and Spain. Raisin’s successful business model has attracted a strategic investment from PayPal at the end of 2017.