Tandem Bank joins Raisin UK Savings Marketplace

Digital bank Tandem announced in a statement on Monday (August 1) that it had joined online savings marketplace Raisin UK, offering UK customers access to its range of fixed-term savings products.

Tandem’s current suite of savings products spans a fixed rate and instant access, and it is expected that over time other Tandem savings products will become available on the Raisin online marketplace, depending on the version.

Raisin UK’s marketplace connects consumers to a range of banks offering deposit protected savings accounts. Raisin users can then research the best interest rates, request the opening of as many savings accounts as they wish, 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 ($25.7 billion) in assets under management in savings products.

See also: Raisin exceeds 25 billion euros in savings-based assets under management

The new agreement with Raisin means that Tandem’s fixed-term savings products will also be available through Raisin UK distribution channels via Aviva’s “Aviva Save” and AJ Bell’s “Youinvest” hubs.

“We are delighted to join the Raisin UK market,” said Ben Mitchell, director of savings at Tandem. “With the cost of living crisis, Britons are understandably keen to seek out the best rates for their hard-earned money, and they now have the choice of coming directly to Tandem or accessing Tandem’s savings products through the Grape market.”

Kevin Mountford, co-founder of Raisin UK, added: “We are delighted to welcome Tandem to the Raisin market. Many of our savers are looking for a savings provider that is committed to providing fairer and greener financial choices, complemented by an exceptional online experience and Tandem fits the bill perfectly.

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About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

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