PickTheBank opens European banking to Cyprus savers

Alexander Gromov explains why Europe’s savings market remains fragmented, how PickTheBank gives customers access to licensed banks and higher savings rates without holding their money, and why Cyprus is the company’s immediate priority. PickTheBank started in 2022 as a comparison platform for European savings products. Today, you have expanded into a platform where customers can also apply for and manage deposits with selected partner banks. What drove this evolution, and what have you learned about the needs of European savers? PickTheBank began with a personal question: where should I keep my savings to earn a better return without unnecessary risk? In 2023, we launched a comparison platform covering rates from almost every retail bank in Europe. It quickly gained popularity, especially in Western Europe. We learned comparison alone was not enough, particularly for us in Cyprus.

Knowing a better rate exists abroad differs from being able to access it. Customers need a familiar language, effective onboarding and confidence their money goes directly to a licensed bank. That is why, in 2025, with Lidion Bank in Malta, we expanded into customer onboarding and fixed-term deposit management. Today, thousands use PickTheBank to find, apply for and manage savings products. The lesson is simple: people want competitive rates, convenience and local support. A European deposit should be as easy to open and manage as one at home. Europe has a single market, but banking and savings remain highly fragmented across national borders. What are the biggest barriers preventing Europeans from accessing savings products in other EU countries, and how is PickTheBank trying to remove that friction? Europe has a single banking market on paper, but savings remain largely national. Customers…