Normally, it runs so: An innovative financial Start-up arouses the interest of a large Bank, the institution invests. A Berlin Start-up turns the now – and buys a Bank. The operator of interest platforms, Raisin, has announced the takeover of MHB-Bank. The financial house based in Frankfurt am Main is specialized on corporate clients and at the same time, one of the largest providers for Fintechs. So far, both companies worked together as partners. The reason for this is to Have Fintechs a permit subject to business, are you a Partner with an existing banking license.
Raisin gives day – and fixed Deposit of banks in the whole of Europe. Over its seven platforms in Germany, is a world to save – customers can use the interest rates of 65 partner banks in Italy, Estonia or Portugal. There are on fixed-term deposits, currently up to 2.2 percent interest in the year, the days money is at least 0.7%, often more than in-house Bank. The customer must register online, identify themselves and the amount of investment in a dedicated account with MHB-Bank transfer. The Rest of the Raisin. The Start-up earned in the commissions, the partner banks.
a banking licence brings the Fintechs benefits
With the purchase of MHB Bank, the young company wants to simplify its offer. Raisin gets access to more investors data, in addition, customers should only once instead of twice, the terms and conditions. The Fintech would have been able to apply for a banking license. “We would have had to build the structures of a Bank anyway,” says co-founder Tamaz Georgadze.
Fintechs would usually strive for a private Bank license in order to be independent, says Bernd Oppold by the auditing firm KPMG. “Takes a Fintech of its regulated banking Partner, he acquires at the same time also security for the future business model.” Finally, the question of the extent to which a Partner in innovation and growth at all could go, Oppold said. The acquisition model of Raisin could make a school, – the expert believes. A young company should be financially able to take on a Partner. In addition, a purchase could also bring disadvantages, including most significantly higher balance sheet total of the purchased Bank in the books.
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Since its founding five years ago, a Raisin has already gives 10 billion Euro of well over 160,000 customers of banks and, thus, well 80 million euros in interest. On average, customers arrive to a yield of 0.8 per cent – a considerable value in times of low interest rates.
The potential seems great: Especially the Germans love their day – and fixed Deposit accounts in spite of the paucity of interest. Currently 2,400 billion euros, are stuck in Bank deposits. The called in addition to Raisin other founders on the Plan. Companies such as Savedo or Deposit Solutions rely on very similar concepts.
all are pursuing the goal to join the world-wide Deposit-taking business on one platform – and to achieve for the customer and higher returns. Investors jump on. Raisin has been able to collect 170 million euros. Among the donors, financial service providers, such as PayPal or Thrive Capital, the firm of Joshua Kushner, the brother-in-law of U.S. President’s daughter, Ivanka Trump. Recently, the company closed a financing round with more than 100 million euros.
Higher return, greater risk
From a financial market as a rule are not able to make the money to intermediaries: A higher return necessarily mean a greater risk. The received in the previous year to feel the clients who invested through intermediaries their money at the Estonian Verso Bank. At the Insistence of the Estonian authorities, the European Central Bank, the winding up of the Bank. The Institute is said to have broken the laws against money laundering and the financing of terrorism.
While investors are protected in a Bank in the EU by the European Deposit guarantee up to a sum of 100,000 euros. At higher amounts, investors will not have to fear, but rarely to your money. The funds of the Deposit guarantee does not extend beyond that-namely, have to take the place of the taxpayer. And it depends on the political will of the member States.
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Oliver Voß
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