MHB provides Raisin with account management and customer identification, as well as powering transactions — services that require an underlying bank license.
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Raisin acquires German banking provider MHB Bank
Georgadze says that not having a banking license has been a bottleneck to Raisin launching in more countries across Europe. Although available to customers across the EU from the get-go, Raisin has dedicated local market offerings in the Netherlands, U.K. and, of course, Germany. In addition, Georgadze says the acquisition will enable Raisin to streamline the on-boarding process for deposit banks as well as distribution partnerships, such as the ones it has with O2 Banking of Telefónica Germany and challenger bank N26.
