Raiffeisen Bank International opts for Surecomp’s collaborative trade finance platform
Raiffeisen Bank International (RBI) has selected Canadian trade finance solutions provider Surecomp to digitise its operational processes for guarantees and letters of credit.
RBI selects Surecomp’s RIVO for trade finance
The agreement will see the corporate and investment bank, headquartered in Vienna, Austria, utilise Surecomp’s collaborative trade finance platform RIVO.
Hosted by Amazon Web Services (AWS), Surecomp says the Software-as-a-Service (SaaS) solution will enable RBI to provide its global corporate customers with a “fully digital workflow” and enhanced processes.
In addition to the issuance of trade instruments, RIVO will also assist RBI in client onboarding, transaction management and paperless processing, with the integration supported “without the need for internal IT resources”.
Sabine Zucker, head of group transaction banking at RBI, says the partnership will “undoubtedly facilitate growth” for the bank, which currently remains active throughout 12 markets in Central and Eastern Europe, and “allow us to focus on developing new markets”.
Launching the solution in 2022, Surecomp, which is headquartered in Toronto, has secured a number of deals in the years since to cement RIVO’s position in the trade finance industry in Europe.
These include deals with investment banking and wealth management firm Investec, which services markets in the UK and South Africa, and more recently, with Germany’s DZ Bank, which also announced its adoption of the solution this month.
