Digital bank Tandem has forged its first partnership – joining the Raisin UK online savings marketplace to offer UK customers access to a range of it fixed term savings products.
Tandem, which is working to ‘create a fairer, greener, more accessible bank for people across the UK’, describes the collaboration as an ‘important first partnership announcement’ that demonstrates its ability to extend and diversify its deposit raising channels.
Ben Mitchell, director of savings at Tandem Bank, said: “We are excited to join the Raisin UK marketplace. 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.”
Tandem, with a current package of savings products extends across fixed rate and instant access, expects to add additional Tandem savings products to the Raisin online marketplace. 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.
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.”
Raisin, which offers its customers in Europe and the USA access to interest-bearing overnight and fixed-term deposits at more than 160 international partner banks, recently revealed that it had achieved more than €25billion of assets under management in savings products.
Earlier this year, Tandem Bank appointed Georgina Whalley to the newly-created role of chief impact and marketing officer with a mandate to focus on building the digital bank’s green credentials.
Check out our interview with Whalley in the latest edition of the The Fintech Times newspaper.