logo
Raiffeisen Bank signs for Wise Platform

Raiffeisen Bank signs for Wise Platform

Finextra14-05-2025

Raiffeisen Bank International has struck a deal with Wise to bring cross-border payments to its customers in Central and Eastern Europe.
0
Raiffeisen, which operates in 11 markets in the region, will roll out the Wise Platform for business and personal customers.
Wise Platform is powered by more than 70 licenses and six direct connections to payment systems globally, enabling cross-border payments to some 160 countries and over 40 currencies, with 65% of transfers settled in 20 seconds or less.
Matthias Dekan, head, payments and daily banking, Raiffeisen, says: "In the past few years, we have seen growing customer demand and rising expectations for seamless international payments and we're looking forward to going live with this innovative offering."
The agreement with Raiffeisen is the latest in a series of deals struck with banking partners to adopt the money movement firm's tech stack for international payments and comes hard on the heels of recent collaborations with Bank Mandiri, Zempler Bank, Morgan Stanley and Standard Chartered.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Federal agencies were reportedly tracking foreigners visiting with Musk afraid they were trying to influence the mogul
Federal agencies were reportedly tracking foreigners visiting with Musk afraid they were trying to influence the mogul

The Independent

time6 hours ago

  • The Independent

Federal agencies were reportedly tracking foreigners visiting with Musk afraid they were trying to influence the mogul

Federal agencies were tracking foreign nationals who visited Elon Musk over concerns that they could influence the tech billionaire, according to a report. Agencies, including the FBI and Department of Homeland Security, were reportedly among the agencies surveilling foreigners who met with Musk at his U.S. properties in 2022 and 2023, according to The Wall Street Journal, citing people familiar with the matter. Officials at the FBI and others were briefed on the investigation, The Journal reports, which focused on overseas visitors from Eastern Europe and elsewhere 'who might have been trying to influence him.' The investigation, which predates the second Trump administration, did not result in any charges, the outlet reports. The Department of Homeland Security declined to comment when approached by The Independent. The FBI and representatives for Musk did not immediately respond. Concern surrounded sensitive contracts Musk's five companies hold with the U.S. government and the 'unprecedented access' he has to top government officials, according to The Journal. Musk's own companies have been promised or awarded nearly $21 billion by the U.S. government since 2008, according to data analyzed by The Independent. The vast majority of the funding comes from federal contracts with SpaceX, the private space company Musk founded back in 2002. The company holds Defense Department contracts for satellite launches, including for the country's secretive National Reconnaissance Office. Reports surrounding Musk's foreign associates being tracked follow his dramatic exit from Washington, D.C., which saw his relationship with President Donald Trump implode last week. Musk helped re-elect the president by launching his super PAC last year. Eyebrows were raised by staffers within the America PAC over Musk's association with foreign nationals, according to The Journal. Sources familiar with the PAC's inner workings told the outlet that they brought in extensive vetting to 'keep foreigners out.' The Journal reported last October that Musk raising security concerns. Musk was said to have spoken to the Russian president on the phone about business and geopolitical matters, officials with knowledge of the alleged conversations told The Journal. Kremlin spokesperson Dmitry Peskov confirmed one telephone call took place between Musk and Putin where they discussed 'space as well as current and future technologies,' the outlet reported, but denied there had been regular conversations. When reached for comment from Musk at the time, a SpaceX spokesperson told The Independent the claims in the Journal were 'misleading' and 'unsubstantiated.'

Natech unveils AI innovations across its banking product suite
Natech unveils AI innovations across its banking product suite

Finextra

time8 hours ago

  • Finextra

Natech unveils AI innovations across its banking product suite

Natech Banking Solutions, the leading banking technology platform in Southern Europe, is proud to announce the rollout of cutting-edge artificial intelligence capabilities across its full suite of banking software solutions. 0 These advancements are being gradually deployed to both new and existing clients across Core Banking, Anti-Money Laundering (AML), and Digital Engagement Channels (web and mobile). Through advanced machine learning (ML) and natural language processing (NLP), Natech's AI-powered tools are engineered to deliver smarter customer experiences, boost bank agent productivity, and dramatically increase operational efficiency, leading to significant revenue growth and cost reduction benefits for all clients. AI-Powered Capabilities AI-Driven Assistants Natech's digital assistants are now embedded across platforms, offering real-time support, personalized recommendations, and automatic document preparation. These tools empower relationship and account managers with proactive insights, while enabling back-office teams to minimize time spent on manual tasks and focus on higher-value client engagement. Hyper-Personalized Financial Offerings Leveraging behavioral and financial data, Natech's algorithms assess each customer's unique profile—factoring in risk, transaction behavior, and market trends—to deliver dynamic pricing and tailored lending products. The result is lower friction, better portfolio performance, and deeper customer loyalty. Real-Time Analytics & Early Warnings New AI modules continuously scan portfolios and transaction data to identify trends, predict liquidity needs, and flag early warning signs of default. Financial institutions gain the foresight to act before issues escalate—enhancing resilience and regulatory preparedness. Human-Centered Reporting Natech's AI automatically generates summary sections that translate complex financial reports into clear, concise language. This improves internal collaboration, reduces interpretation errors, and enhances decision-making. Operational Efficiency Through Automation The Natech Intelligent Automation Agent is transforming back-office operations by eliminating repetitive manual work. Banks can reduce operational costs, improve accuracy, and reallocate resources for growth and innovation. George Nikolaropoulos, Chief Technology Officer, Natech Banking Solutions: "We see AI not just as a technological layer, but as a catalyst for reimagining how banks serve people. By integrating AI directly into our core systems and digital channels, Natech is helping financial institutions scale efficiently while delivering meaningful customer experiences." George Rogkakos, Chief Product Officer, Natech Banking Solutions: "Our product roadmap is shaped by three principles: customer focus, agility, and intelligence. The AI capabilities we're launching today are just the beginning. We're building a product ecosystem that learns and evolves alongside our clients, ensuring that they're always one step ahead." Natech invites financial institutions, fintechs, and ecosystem partners to explore how these AI-powered capabilities can help them innovate faster, operate smarter, and deliver next-level customer experiences.

Kotapay signs Raisin as first client for Banking-as-a-Service platform
Kotapay signs Raisin as first client for Banking-as-a-Service platform

Finextra

time8 hours ago

  • Finextra

Kotapay signs Raisin as first client for Banking-as-a-Service platform

Kotapay, a division of First International Bank & Trust (FIBT), today announced Raisin, the global savings and investment platform, as the first financial technology company to integrate with its new bank-direct banking as a service (BaaS) platform, known as Kavinu. 0 This integration expands on FIBT's existing partnership with the German-based fintech leader, which already included serving as the holder of Raisin customers' cash accounts. With the conversion of service bank responsibilities to FIBT, Raisin now accesses a variety of cloud-based microservices to processes fund transfers between external accounts and the 80+ banks and credit unions on the Raisin marketplace, as well as perform critical risk management and compliance functions. By removing unnecessary middleware and nonbank providers used by many to connect banks and fintechs, Kotapay's vertical integration simplifies the BaaS model and accelerates speed-to-market for fintechs and embedded finance providers. 'Kavinu represents the next generation of banking as a service where innovative companies like Raisin connect directly to an experienced banking partner like FIBT and Kotapay,' said Trent Sorbe, Chief Payments Officer at FIBT. 'Raisin is an ideal first partner for demonstrating Kavinu's capabilities and the advantages of our BaaS 2.0 approach. One contract and one connection greatly accelerated speed to market, as Raisin was able to launch in less than half the time experienced by other fintechs reliant on convoluted, unstable models.' Kotapay, which already provides payments processing to more than 107,000 employers and 1.5 million consumers nationwide, launched Kavinu to redefine BaaS by emphasizing direct relationships between fintech companies and banks. This approach ensures fintech solutions are built on a trusted foundation with faster time to market, proven scalability and increased revenue potential. Key advantages of the Kavinu platform include: Direct bank integration - Provides financial innovators with a direct connection to an experienced banking partner. Bank-grade security - Leverages FIBT's robust compliance infrastructure, extensive risk management systems, and deep regulatory prowess. Accelerated speed to market - Enables faster implementation compared to other models, allowing partners to launch new products and services faster. Proven scalability - Supported by Kotapay's existing payments infrastructure, which processed over 64 million transactions totaling more than $102 billion in 2024. Experienced leadership - Benefits from a team of industry leaders that propelled FIBT to one of only six community banks on the Nacha's top-50 ACH originators list. Versatile architecture - Cloud-native, API-driven technology layer adaptable to various business models beyond typical BaaS use cases. 'FIBT and Kotapay are among a small group of institutions that are both technology-forward leaders in electronic transaction processing and backed by the stability of a 115-year-old, family-owned bank,' said Cetin Duransoy, CEO at Raisin. 'The combination of industry leadership and superior technology in a single bank-direct platform is the right solution as we continue to grow and scale our platform. Kavinu also meets the high standards expected by our 75+ partner banks and credit unions and their regulators.' Commenting on becoming Raisin's new service bank, Peter Stenehjem, CEO of FIBT, added, 'We've been a proud partner since June 2024 and are excited to see our Kavinu platform come to life as Raisin's new service bank. By reclaiming embedded payments from fractured middleware models, we're ensuring financial innovators like Raisin have the stability, efficiency, and speed they need for long term success.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store