Raisin – How the financial crises inspired this former partner in a large consultancy to jump ship and found a startup

This is the fintech track of Startuprad.io. Find us on Twitter: https://twitter.com/fintech_germany 

This is from the archives of Startuprad.io. Originally published October 26th 2017.

In this interview we talk to Dr. Tamaz Giorgadze, who came to Germany from his native Georgia, eventually becoming a partner at the German office of McKinsey & Company. During the financial crisis, he saw a demand for retail deposits by banks and decided to jump ship to set up his own company. The company is operating as weltsparen.de in Germany and raisin.com internationally. Joern talks to Tamaz and you get a quick overview of what banks actually do, where they get their money from and how retail investors in Europe profit from this.

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We are talking during the interview about those topics:

Wholesale funding

Bank’s transformation function 

Duration

Regulatory measures of a bank’s liquidity

Liquidity coverage ratio  

Net Stable Funding Ratio 

Deposit 

KYC – Know your customer 

AML – Anti Money Laundry

TÜV – A German association of mostly technical auditors

Payment topics we touch

- SEPA

- TARGET 2

- And a correspondent bank system (all money transfer used to be done this way)

Deposit insurance schemes (how saver’s money is insured)

- Harmonized scheme in Europe

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