Digital bank Tandem announced in a statement Monday (Aug. 1) that it has joined the Raisin UK online savings marketplace, providing U.K. customers with access to its range of fixed-term savings products.
Tandem’s current suite of savings products extends across fixed rate and instant access, and it is expected over time that additional Tandem savings products will be available through the Raisin online marketplace, per the release.
Raisin UK’s marketplace connects consumers to a range of banks offering deposit-protected savings accounts. Raisin users can then shop around for the best interest rates, apply to open as many savings accounts as they like and manage everything under one roof.
Through Raisin’s international portals, including the Raisin UK savings marketplace, the FinTech now has more than 25 billion euros ($25.7 billion) of assets under management in savings products.
See also: Raisin Tops 25B Euros in Savings-Based Assets Under Management
The new arrangement with Raisin means that Tandem’s fixed-term savings products will also be available via Raisin UK’s distribution channels through Aviva’s “Aviva Save” and AJ Bell’s “Youinvest” hubs.
“We are excited to join the Raisin UK marketplace,” said Ben Mitchell, director of savings at Tandem. “With the cost of living crisis, Brits are understandably keen to look for the best rates for their hard-earned cash, and they now have the choice of coming to Tandem direct, or accessing Tandem’s savings products through the Raisin marketplace.”
Kevin Mountford, Raisin UK co-founder, added, “We are delighted to welcome Tandem to the Raisin marketplace. Many of our savers are seeking a savings provider with commitments to providing fairer and greener financial choices complemented by an exceptional online experience and Tandem fits the bill beautifully.”
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