Monese Teams With FinTech Raisin To Offer Savings Access

The European banking app Monese has formed a partnership with cross-border deposits marketplace Raisin, as reported on Tuesday (Sept. 3).

Customers of Monese in the U.K., Germany, Austria, France, the Netherlands and Spain can reach the Raisin platform from the Monese Hub and choose from various financial products offered by over 80 partner banks.

“With a broad choice of Raisin’s more than 500 competitive, transnational savings products, available from over 80 partner banks located across the entire European economic area, Monese users will be able to select their preferred deposit in a new streamlined process,” Monese told the news outlet.

Customers can use Raisin’s cross-border deposits marketplace to look for the best rates and find the products that best fit their needs.

With Monese Savings, the London startup will be able to offer customers savings account access and management all within the Monese app. The company said it has more than 1.4 million signups, with over 100,000 new users coming on board every month.

Monese raised $60 million in Series B funding led by Kinnevik in 2018. PayPal, Augmentum Fintech, International Airlines Group and Investec’s INVC Fund also participated in the round.

In February, Monese added support for Apple Pay for personal cards in the U.K. as well as France. The company said users can tap into the offering to make payments in-store, on the web or via iOS apps with an iPhone SE or higher model. In addition, the company noted the feature is available on some iPads as well as the Apple Watch. The company said in a blog post, “We live in a world increasingly reliant on digital and contactless payments. With this in mind, we’re excited to be enhancing our smart, simple banking experience with integrated payment solutions like Apple Pay.”

In May, Monese extended Apple Pay support through 13 countries in Europe, and also arrived at National Australia Bank. And U.K. retailer Iceland has seen encouraging results from a mobile wallet technology pilot during a marketing campaign.