Banking APIs help treasurers manage operations centrally, while cooperation between leading business bank and fintech enhances customer experience
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Vienna, Austria – May 10, 2023: Vienna-based Raiffeisen Bank International AG (RBI) and Treasury Intelligence Solutions (TIS), with headquarters in Germany and Boston, have joined forces to provide mutual customers in the corporate cash management area with state-of-the art solutions. Among many other benefits, corporate customers will be able to seamlessly connect to API (Application Programming Interfaces) powered products of RBI and other financial institutions via the TIS platform and manage their treasury operations centrally using their preferred system.
“This cooperation with TIS, the leading fintech in its area of expertise, is a milestone in our cooperation strategy with the fintech-scene. Our customers can now receive RBI account statements in real time within the TIS application. This is currently possible for RBI accounts in Austria, Serbia, and Kosovo with more extensions planned within this year,” said Susanne Prager, head of RBI’s Cash Management department. “This joint product is exactly what our clients are looking for in terms of user experience, and we are very happy that our valued customer Porsche Holding validates our approach.”
“The banking APIs developed by RBI and embedded in the TIS web interface will represent a significant milestone in Porsche’s pursuit of real-time treasury. We can see the immediate value this product adds into our daily treasury operations,” said Heimo Tiefenböck, Group Cash Manager at Porsche Holding GmbH.
Jörg Wiemer, Co-Founder and CSO at TIS, said, “TIS has worked closely with RBI to develop a suite of APIs that provide real-time statement generation, payment processing, and payment status updates. As part of our commitment to continual connectivity evolution, they offer valuable additional benefits and real-time insights for our clients without requiring extensive IT projects.“
As opposed to today’s treasury routines with batch processing and end-of-day availability of balances and statements, APIs will become part of the “new-normal”, at least for RBI’s and TIS’s customers. APIs, alongside other connectivity options, are a crucial piece of the puzzle across the Office of the CFO: The set of programming code enables automated and real-time data transmission between Banks, ERPs, and Treasury systems and thereby supports various use-cases surrounding real-time and on-demand payments and balances.
For more information about this announcement, please refer to the below contact details.
About TIS
TIS helps CFOs, Treasurers, and Finance teams transform their global cash flow, liquidity, and payment functions. Since 2010, our award-winning cloud platform and best-in-class service model have empowered the entire office of the CFO to collaborate more effectively and attain maximum efficiency, automation, and control. By streamlining connectivity between our customers’ back-office systems and their worldwide banks, vendors, and business partners, TIS enables users to achieve superior performance in key areas surrounding cash forecasting, working capital, outbound payments, financial messaging, fraud prevention, payment compliance, and more.
With over 11,000 banking options, $80 billion in daily cash managed, and $2.5 trillion in annual transaction volume, TIS has a proven track record of combining our unparalleled market expertise with tailored client and community feedback to drive digital transformation for companies of all sizes and industries. As a result, hundreds of organizations and thousands of practitioners rely on TIS daily to gain strategic advantage, monetize data, improve operational efficiency, and better manage risk. Learn more at https://tispayments.com/.
About RBI
RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 12 markets of the region are covered by subsidiary banks. Additionally, the RBI Group comprises numerous other financial service providers, for instance in leasing, asset management or M&A.
Around 45,000 employees service 17.7 million customers through approx. 1,600 business outlets, the by far largest part thereof in CEE. RBI’s shares are listed on the Vienna Stock Exchange. The Austrian regional Raiffeisen banks own around 58.8 per cent of the shares, the remainder is in free float. Within the Austrian Raiffeisen Banking Group, RBI is the central institute of the regional Raiffeisen banks and other affiliated credit institutions.
TIS Media Representative
Jennifer Knutel
SVP Global Marketing, TIS
Jennifer.knutel@tispayments.com
RBI Media Representative
Christof Danz (+43-1-71 707-1930), christof.danz@rbinternational.com)
http://www.rbinternational.com
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