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E-invoicing, SCF & E-procurement

Raiffeisen selects iGTB to provide digital trade finance platform

Wednesday 8 March 2017 | 12:53 PM CET

iGTB, five Austrian Raiffeisen Regional Banks and Raiffeisen Bank International have agreed a contract to implement a comprehensive digital trade finance platform.

The agreement includes five Austrian Raiffeisen Regional Banks include: Raiffeisenlandesbank Niederösterreich-Wien AG, Raiffeisen-Landesbank Steiermark AG, Raiffeisenlandesbank Oberösterreich Aktiengesellschaft, Raiffeisen-Landesbank Tirol AG and Raiffeisenlandesbank Vorarlberg Waren-und Revisionsverband regristrierte Genossenschaft mit beschränkter Haftung) and Raiffeisen Bank International (RBI), Vienna, a banking group in Austria and Central and Eastern Europe.

The deal includes provision of a client portal, as well as a full digital back-end infrastructure, thereby standardising Raiffeisen’s operations across numerous legal entities and client segments and providing guarantees, letters of credit, collections and financings through efficient digital channels.

The iGTB solution enables Raiffeisen to automate its operations and adapt to continuing business and market demands. This includes the specifications for SWIFT’s upcoming trade finance changes in 2018 and 2019 further simplifying operations and reducing costs for the banks.

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