Broadening the Relationship with FIBT and Kavinu
The move allows Raisin to become the first fintech entity to directly connect with the newly launched bank-direct banking-as-a-service (BaaS) infrastructure. The Kavinu platform, introduced by Kotapay, offers financial technology firms a more efficient path to core banking services.
Enhancing Capabilities through Direct Integration
Through this direct integration, Raisin can now facilitate fund transfers between external accounts and over 80 financial institutions on its marketplace. Additionally, it gains access to bank-grade risk management and compliance services provided by FIBT.
The Kavinu platform is designed to simplify the integration process for fintechs and banks, minimizing the need for intermediary services. According to representatives from FIBT, this approach has significantly reduced the time required for Raisin’s deployment on the platform.
Security and Stability
Raisin’s transition was driven by Kavinu’s advanced security features and operational transparency. The fintech also appreciated the stability offered through its partnership with a long-standing financial institution, ensuring alignment with regulatory standards across more than 75 partner banks and credit unions using its marketplace.
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