Santander has launched an Open Banking-enabled service which allows its customers in Spain to integrate their financial data with savings app Raisin.

Under the tie-up, Santander will integrate its Application Programming Interface (API) with Raisin, enabling customers wishing to register for its digital savings app to tap the ‘Santander Connect’ button and securely share their name, date of birth, or contact details with Raisin.

The Berlin-based FinTech founded in 2012, uses APIs to integrate into the mobile apps of more than 60 European banks through the third party app.

Raisin is the first FinTech to use Santander’s newly create API marketplace, as the Spanish banking giant begins to build its range of partnerships under the second Payment Services Directive (PSD2) legislation which facilitates Open Banking services.

Speaking after the integration was announced, Tamaz Georgadze, chief executive and founder of Raisin, said: “Our cooperation with Santander in Spain represents not just a relationship of trust between one of the largest, multi-national banks in the world.

“It also shows how big banks and fintechs can combine expertise to provide greater benefits and increase value for customers,” he added.

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