Austria’s Raiffeisen Bank International has announced a strategic partnership with Wise Platform, the global payments infrastructure arm of Wise.
The collaboration aims to improve international payments for both personal and business customers across Central and Eastern Europe.
Operating as a universal bank in 11 markets across the region, Raiffeisen Bank International will begin integrating Wise Platform’s technology into its services to offer faster, more transparent, and cost-effective cross-border payments.
The updated service, powered by Wise’s infrastructure, will be available directly through customers’ existing Raiffeisen accounts.
Wise Platform holds over 70 licenses and maintains six direct connections to global payment systems, supporting transfers to more than 160 countries in over 40 currencies.
According to Wise, 65% of payments are completed in under 20 seconds.
Steve Naudé, Global Managing Director at Wise Platform, 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.”
Matthias Dekan, Head of Payments & Daily Banking at Raiffeisen Bank International, added:
“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.”
Featured image credit: Raiffeisen Bank International
