A  savings and investment platform based in Germany is opening up a new front in the war for U.S. customers’ deposit dollars.

Raisin, which bills itself as a one-stop shop for online savings and investments, is planning to launch in the U.S. next year. Partnering with small and medium-sized institutions, the Berlin-based fintech acts like a marketplace for savings products, letting customers choose from a range of accounts with attractive interest rates.

Michael Stephan, Raisin’s chief operating officer, told Bank Innovation that the six-year-old company’s differentiator is its pro-consumer approach, which lets consumers compare and find the best rates. While it partners with banks to offer the savings products and has API integrations with them, Raisin controls the customer experience through its digital platform, handling account opening and anti-money laundering checks.

“We’re very passionate about the two sides of our marketplace,” Stephan said. “We want to make it very easy for [the consumer] to pick and choose, as well as manage, the savings products. We don’t provide a lead out to another bank; we give customer one access point to accounts at a lot of banks.”

In conjunction with the expansion, Raisin hired Paul Knodel as its U.S. CEO. A financial industry veteran, Knodel previously held senior positions at institutions that include Citigroup, Merrill Lynch, TD Ameritrade and Wealthfront.

Raisin enters the U.S. deposit market at a time when major institutions are competing aggressively for a share of the U.S. consumers’ roughly $12.7 trillion in deposit dollars. Indeed, over the past year, institutions have been offering competitive APYs on savings accounts. For example, Marcus by Goldman Sachs has been marketing a 2.25% APY rates on savings accounts; Barclays, as part of its efforts to expand its U.S. operations, is offering customers 2.20% APY rates on savings accounts. Others like BMO Harris Bank and Ally also are aiming to acquire more savings account customers with better-than-average interest rates.

Raisin’s approach offers customers a greater breadth of options within a single platform. “What we try to solve is a gap in interest rates,” said Stephan. “In Europe, the best rate that customers get – 1% to 1.2% – is from our platform, while the average rate that customers get is very close to zero. In the U.S., the spread is even bigger between what you could get and and what you’re actually saving.”

In addition to customer benefits from the marketplace approach, Raisin will help the banks it partners with (typically small to medium-sized institutions) to expand their customer base. Raisin’s target market, according to Stephan, goes beyond millennials to retirees looking for the best interest rates on their savings dollars.

Raisin’s entry into the U.S. should have a positive effect on the market — a win for bankers and consumers, according to Chris Tremont, executive vice president of virtual banking at Radius Bank. “The regulatory environment in Europe is certainly different than in the U.S., so it will be interesting to see how fintechs like Raisin operate if or when they make their way here,” he said. “The expanded level of partnership should only help to enhance the banking experience for consumers and businesses in this country, and we’re excited to be a part of this evolution.”

Since its launch in 2013, Raisin has brokered more than 13 billion euros worth of transactions for more than 175 customers in 31 European countries. It currently partners with more than 75 banks and, earlier this year, the company acquired German banking provider MHB Bank.