In this interview we talk to Dr. Tamaz Giorgadze, who came to Germany from his native Georgia, eventually becoming a partner at the German office of McKinsey & Company. During the financial crisis, he saw a demand for retail deposits by banks and decided to jump ship to set up his own company. The company is operating as weltsparen.de in Germany and raisin.com internationally. Joern talks to Tamaz and you get a quick overview of what banks actually do, where they get their money from and how retail investors in Europe profit from this. We are talking during the interview about those topics: Wholesale funding Bank’s transformation function  Duration Regulatory measures of bank’s liquidity Liquidity coverage ratio   Net Stable Funding Ratio  Deposit  KYC – Know your customer  AML – Anti Money Laundry TÜV – A German association of mostly technical auditors Payment topics we touch - SEPA - TARGET 2 - And a correspondent bank system (all money transfer used to be done this way) Deposit insurance schemes (how saver’s money is insured) - Harmonized scheme in Europe Folge direkt herunterladen --- Send in a voice message: https://anchor.fm/startupradio/message Support this podcast: https://anchor.fm/startupradio/support