UK-based Tandem Bank has partnered with the online savings marketplace Raisin UK in order to expand its services and diversify its deposit raising channels. Tandem’s entry into Raisin UK’s marketplace will increase the reach of its fixed term saving products via Aviva’s Aviva Save and AJ Bell’s Youinvest hubs.

According to Tandem’s company representatives cited by thefintechtimes. com, this partnership aims to help UK citizens navigate through the cost-of-living crisis by making Tandem services more reachable through the Raisin marketplace. Raisin UK’s representatives cited by the same source welcomed Tandem to the marketplace while highlighting its green financing principles.

The digital bank’s internal structure has recently received a new chief of impact and marketing officer role, which oversees the development of green credentials. Raisin offers its interest-bearing overnight and fixed-term deposits to its Europe and US clients at more than 160 international partner banks. Green finance and savings According to a green finance guide published by Rcibank, a significant part of the UK’s population finds it challenging to make greener financial choices, whether we’re talking about green pensions, green mortgages or green savings.

With green savings, companies aim to tie in their savings products to eco-friendly and socially positive projects. These include carbon reduction efforts, tree-planting initiatives or renewable energy projects. In Tandem’s case, they support lowering the carbon footprint of individual homes, as highlighted in their website’s sustainability section.

According to the bank’s own research, improving the energy efficiency of UK homes can help alleviate the cost of living, energy security and climate crises. Other entities that have launched green finance initiatives in 2022 include Slovakia-based Tetra banka, which implemented a green banking feature, as well as UK-based fintech Plum which launched a recyclable debit card. Moreover, French sustainable neobank Green-Got has launched a digital green banking app in collaboration with ecolytiq.

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