Credorax, an Israel-based bank and cross-border payments firm, entered an agreement with Raisin, a Germany-based savings marketplace, to offer retail deposits in Germany.

Credorax said the agreement marks the company's first banking products in the region and Raisin's German platform, called Weltsparin, will serve as a portal for new products aimed at retail from Credorax. 

"Partnering with Raisin is a great opportunity for Credorax," Igal Rotem, CEO at Credorax, said in a company release. "As the payments and banking sector rapidly evolves in Germany and across Europe, this unique partnership allows us to expand our offering on the continent to include deposits."