European wealth management fintech Raisin has announced the acquisition of software company Choice Financial Solutions, according to IBS Intelligence.
The supplier states that the acquisition will make the US deposits market accessible to banks across the country. Raisin states that it will license Choice’s software to American banks and enable them to deliver flexible deposits and products directly to their own customers via its US platform.
The acquisition will enable Raisin to provide its customers with access to higher interest rates through Choice FS’ deposits solution.
Launched in 2010, Choice FS is a software solution that allows banks and credit unions to enable savers to create customized deposit accounts. The bank also provides for ad-hoc withdrawal schedules and amounts with a single customized deposit.
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