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Raiffeisen Bank International announces Elevator Lab with new set-up

Tuesday 26 May 2020 12:43 CET | News

The fourth round of the Fintech Partnership Program Elevator Lab, which was established by Raiffeisen Bank International (RBI) in 2017, has kicked off.

While in the past the search for fintechs from all over the world was conducted centrally from Vienna and the subsidiary banks focused on their local fintech ecosystems, this time they play a more active role in the global search.

In 2020 they organise their own Elevator Lab programs on specific topics in their countries: they are fully involved in the scouting process and selecting the most promising solutions to be tested locally. For example, the subsidiary banks in Romania and Bulgaria are now starting with the topics of Advanced Analytics as well as customer loyalty programs and are worldwide inviting fintechs with corresponding solutions to apply.

Only a little later, the head office in Vienna will be looking for fintechs to help large companies integrate payment systems and use customer data more efficiently. Further subsidiary banks will conduct their Elevator Lab programs during 2020. In addition, RBI's subsidiary banks continue to organise local Elevator Lab Challenges for later stage fintechs and Elevator Lab Bootcamps especially for early-stage start-ups.

Overall, Elevator Lab is thus the largest fintech partnership program in Central and Eastern Europe (CEE), as in the past three years RBI has evaluated more than 1,000 fintechs from over 55 countries, according to the official press release.

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Keywords: Raiffeisen Bank International, RBI, fintech, CEE, data, banking, Open Banking, data analytics, loyalty, APIs
Categories: Banking & Fintech | Payments General
Countries: Europe
This article is part of category

Banking & Fintech