Intesa Sanpaolo Bank Romania joining the network adds to IBOS’s geographic coverage in Europe and provides specialist local knowledge to help businesses prosper in Romania, generating global opportunities for all IBOS member banks, as the press release notes.
As an international alliance consisting of large banks around the world, IBOS allows its members to provide local banking services across the globe. This therefore permits businesses to operate across several jurisdictions where they themselves are not present.
As a result, IBOS helps customers avoid exchange rate risks and streamline cash management in multiple jurisdictions through its online portal centred on opening accounts for its members’ new corporate customers, making IBOS accessible and open for business 24/7.
Intesa Sanpaolo Bank Romania representatives sayd that joining the IBOS alliance is a strategic decision of the bank, with an impact for Romania as well. The partnership could confirm the bank and the country’s aspiration to continue to develop and strengthen the attractiveness of its offerings to businesses across the globe. The bank looks forward to collaborating with the other member banks to provide further benefits to their corporate clients through the advantages of being part of the IBOS network.
As IBOS intends, throughout 2023 the network will continue to grow and is motivated to expand its international alliance across the globe.
The newest member in a while
Last time IBOS association got a new member from Europe was in April 2021 when Bank of Ireland (BoI) joined the network. Bank of Ireland wanted to offer IBOS’s geographic coverage in Europe and to provide local knowledge to help companies succeed in Ireland, generating opportunities for all IBOS member banks.
In Q3 2020, Bank of Ireland formed a new alliance with IBOS member Silicon Valley Bank (SVB), a high-tech commercial bank. SVB is now the go-to bank for IDA Ireland, focussing on bringing new tech companies to Ireland, with all SVB banking referrals now going directly to Bank of Ireland.
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