Piraeus Bank and Natech prepare to launch neobank Snappi in Greece
Neobank Snappi, built as part of a joint venture between Athens-headquartered Piraeus Bank, core banking software vendor Natech and its partner Neptune International, is gearing up for launch in Greece, contingent on licencing from the country’s central bank.
Neobank Snappi prepares to launch in Greece
Piraeus Bank, which operates under publicly-listed Piraeus Financial Holdings, says the independent neobank will offer “Banking-as-a-Service (BaaS), buy now, pay later and other consumer financial products purely on a digital and agile manner”.
Its launch and subsequent provision is to be centred on Natech’s banking technology, which the vendor’s website describes as a “catalyst for digital transformation” complete with modules for multi-currency deposits, credit approval and lending, customer management, trade finance, and accounting and financial reporting.
The technology was previously extended to the Greek unit of Turkey’s Ziraat Bank, which selected Natech as its technology partner in 2020.
Speaking at the launch of the joint venture with Piraeus Bank back in 2022, Thanasis Navrozoglou, president and CEO of Natech, said Snappi would seek to “address both consumers and financial institutions, in Greece and Europe, throughout a pure digital experience” under the expectation of providing “new opportunities for them by augmenting their capabilities through the new BaaS proposition”.
For Neptune International, a private investment and advisory firm based in Switzerland, its remit for the joint venture is to “revolutionise the banking customer experience in Greece but also in the rest of Europe”, according to its founder and managing director, Harris Antoniou.
To further bolster its launch, Snappi is currently attempting to expand its talent pool with “the top talent in digital banking”, with roles in accounting, data and IT engineering, and product ownership among the list of vacancies presented on its website.
Both Piraeus Financial Holdings and Natech were contacted for comment.
