Raiffeisen Bank International has partnered with Wise Platform to transform the international payment experience for its personal and business customers in Central and Eastern Europe (CEE).
Operating as a universal bank across 11 markets in the CEE region, Raiffeisen will integrate Wise’s infrastructure across its network. This will enable customers to send money abroad quickly and seamlessly, directly from their existing Raiffeisen accounts. Wise claims that 65% of its transfers settle in under 20 seconds and 95% are completed within 24 hours.
By teaming up with Wise Platform, Raiffeisen joins a growing list of financial institutions using the technology provider to upgrade their international payments offering.
Raiffeisen Bank International head of payments & daily banking Matthias Dekan said, “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. Our collaboration with Wise Platform will allow us to provide our customers with a superior international payments experience.”
Wise Platform global managing director Steve Naudé said, “This partnership highlights major banks’ commitment to providing outstanding customer experiences and modernising their international payments offering with Wise Platform.
“By integrating our payments infrastructure, Raiffeisen is taking a significant step towards offering customers and businesses exactly this: cross-border payments that are instant, transparent, and ultimately more affordable, and we’re excited to be powering this for their customers.”
Wise Platform operates with more than 70 licences and maintains six direct connections to payment systems around the world. This infrastructure enables secure and fast money movement across over 160 countries and in more than 40 currencies.
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