Raiffeisen Bank Signs up Cityfalcon to Pilot Personalised Financial Content in CEE Markets
News on 10th October 2018
Raiffeisen Bank is a lead corporate and investment bank in Austria and has retail and other banking operations in Central and Eastern Europe (CEE) markets. The bank has been working closing with FinTech start-ups to improve its offerings to clients.
We are delighted to be working with the bank to provide their teams access with the hard-to-find content in CEE markets. After from aggregating the content, we’ll focus on providing the same personalisation experience that we provide to our retail clients to the users at the bank. We leverage natural language processing and machine learning to identify the relevant content from all the noise and allow to spend less time searching for content and focus more time on insights and decision-making.
Most content aggregators focus mainly on content in English, but we believe that in Europe where most people prefer to speak their own local languages, the opportunity with content in European languages is quite big. We believe that this is a major differentiator for CityFALCON compared to our competitors.
Apart from working with the bank, we are delighted to be working with the other selected FinTech companies in the ‘Elevator Lab’ program.
Give our platforms a shot here.
About Raiffeisen Bank:
Raiffeisen Bank International AG (RBI) regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 14 markets of the region are covered by subsidiary banks. Additionally, the Group comprises numerous other financial service providers, for instance in the fields of leasing, asset management, as well as M&A.
In total, nearly 50,000 employees service 16.7 million customers through more than 2,400 business outlets, thereof a majority in CEE. Since 2005, RBI’s shares have been listed on the Vienna Stock Exchange.
After the merger of RBI and its former majority owner Raiffeisen Zentralbank Österreich AG (RZB) in March 2017, the combined institute operates – as previously RBI – under the name Raiffeisen Bank International AG. RBI took over all rights, obligations and duties of the transferring company RZB.
RBI is Austria’s second-largest bank and one of the country’s leading commercial and investment banks, its balance sheet total amounts to € 135,15 billion (as per 31 December 2017). The Regional Raiffeisen Banks hold approximately 58.8 per cent of the shares of RBI, the remainder of around 41.2 per cent is free-float.
One of the largest banking groups in CEE
RBI was already active in CEE even before the process of political transition started in the region and the “Iron Curtain” fell: already back in 1986, its first CEE subsidiary bank was founded in Hungary. Therefore, the bank looks back on 30 years of experience in the region’s banking business.
Niche player on the international markets
To support its business activities RBI operates representative offices as well as service branches at selected Asian and Western European locations.