Raisin is planning to create an online marketplace for high-yield savings accounts and CDs for the U.S., but persuading Americans to save could be a challenge.
Deutsche Bank and Commerzbank ended talks on a historic tie-up, throwing the future of the lenders into question after a series of failed turnaround plans.
While there is no formal mandate to pursue a merger and other options are still being considered, Deutsche Bank Chief Executive Christian Sewing is said to have given up his resistance to doing a deal this year.
Deutsche Bank's key regulators would prefer the lender merge with a European rival rather than local competitor Commerzbank, setting them apart from forces in the government keen on an all-German deal.
Silicon Valley Bank expects to receive a banking license from Germany's Federal Financial Supervisory Authority by the end of May and to open its first German location in Frankfurt in the coming weeks.
