Open for new Business-Models: Digital Banking Hub

A few days ago, Dr. Gerhard Köstler, CTO at Raisin, wrote a blogpost about his startup’s business model, which relies on our Open Banking Platform for its success. Today, Sandra Daub, the Head of Global Project Management at Crealogix, describes how the relationship has been beneficial for her too.

Hats off to Raisin, the Berlin-based startup was founded just three years ago and has already visibly changed the banking landscape. Our partner has established an entirely different business model in the industry from the ground up. Through WeltSparen, Raisin clients can shop for the best interest rates in checking and savings accounts across Europe even though the FinTech doesn’t have an active interest rate business of its own. WeltSparen is comparable with a platform like AirBnB, the world’s leading vacation apartment platform, which doesn’t actually own any property itself.  More than 75,000 happy customers prove that the business model Raisin is offering is an open banking platform that meets the demands of customers.

Open Ecosystem

Our partnership with Raisin walks a path paved with milestones. We were able to show that, with our Digital Banking Hub, new business models are quick and easy to set up. The modular, API-based architecture of our platform is the core of an open ecosystem that can be expanded and modified according to demand. As a technology partner, it’s always exciting to see what FinTechs, banks and other market players achieve with our Digital Banking Hub. To write our success stories, we need their ideas!

As an innovator with two decades of industry experience, we offer businesses a modern technology platform that reduces time-to-market to a minimum. Raisin used this advantage to crank up its business by integrating its interest rate market place into third-party banking systems. As a result, the online bank N26 added Raisin’s offering into its portfolio. Further co-operations are also in the works. The open architecture of our platform means that Raisin’s service can be seamlessly integrated with its expanded sales network.

Future-thinking model for the Finance Sector

Raisin is well-versed with the Digital Banking Hub’s uses and is showing the entire finance sector where it’s going; exchanges over data silos, cooperation instead of the cramped defence of the status quo and digital offerings that introduce interesting and international investment opportunities to retail banking customers.

Though we confess, anyone with a bit of imagination who approaches customers with a playful spirit has the advantage. There are lots of possibilities for an open ecosystem based on an API architecture. It’s a bit like playing with Lego – anything goes. The business plan is what determines if it’s worth it in the end.

Speaking of business models: Ask your children what they expect from digital banking platforms. The next generation is growing up with open digital marketplaces that offer a seamless user experience. They have high-level demands for digital financial services.

With the flexibility of open banking and creative finesse like Raisin, we will exceed these expectations.

More about Open Banking