Raize streamlines account identifications
Portuguese peer-to-peer lending platform Raize has launched a new account identification mechanism called IBAN Raize.
All investors will be assigned a dedicated IBAN which they can use to top up their payment accounts. Each IBAN is exclusive to each individual investor, which makes identification easy and secure.
The new process will streamline account identifications by eliminating the need to send proof of transfer. Raize said that this should “make the process simpler and more agile.”
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Top-ups may take between one and three business days to become available in the balance of each account, with a confirmation email being sent when they are made available.
“This IBAN is exclusive to each investor’s account, eliminating the need to send proof of transfer and making the process simpler and more agile,” said a Raize spokesperson.
“IBAN Raize is an innovative mechanism for identifying accounts and will be made available in partnership with Millennium BCP.”
Raize is the biggest P2P lender in Portugal and was the first P2P platform in Europe to go public back in 2018. However, since then its share price has dropped by more than 67 per cent.
Read more: The seven largest P2P platforms in mainland Europe
