RBI commences fintech acceleration program – Elevator Labs

Raiffeisen Bank International (RBI) has launched the third edition of its fintech partnership program “Elevator Lab”.

Designed for fintechs across seven different topics from the banking sector, firms will have the opportunity to apply from 24 April to 26 May.

RBI disclosed that this year there will be a joint search field with a company from the real economy for the first time in the program’s history.

In collaboration with Kapsch Group, RBI said the program seeks out fintech companies that will look to “develop innovative solutions in payment transactions and transaction processing for mobility services.”

The program uses ten RBI network banks in Central and Eastern Europe (CEE) to support the participants with their own fintech initiatives “Elevator Lab Challenges” and “Elevator Lab Bootcamps”.

The aim of this is to support local fintechs in the fintech ecosystems of countries such as: Albania, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Romania, Russia, Serbia and Slovakia.

RBI claim that the reach of Elevator Lab makes the program the largest fintech network in the CEE region.

Maximilian Schausberger, Head of Fintech Partnerships at RBI commented: “Together with strong partners, we want to start cross-industry innovation projects in which fintech solutions can create real added value for the customer experience.

“I am particularly pleased that such a renowned technology leader and global player as Kapsch Group participates in our program.”

The winners of the “Elevator Lab Challenges” will receive a wild card for the semi-final of the group-wide fintech partnership program and have therefore the chance to reach the final in Vienna in September 2019.