# Raiffeisen chooses iGTB to provide digital trade finance platform
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-03-10
Category: BANKING
Category URL: https://financedigest.com/category/banking
Meta Title: iGTB to implement advanced front-to-back platform for
Meta Description: iGTB partners with Austrian Raiffeisen Regional Banks and Raiffeisen Bank International to implement a comprehensive digital trade finance platform, automating
URL: https://financedigest.com/raiffeisen-chooses-igtb-to-provide-digital-trade-finance-platformhtml

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_iGTB to implement advanced front-to-back platform for the European bank’s trade finance services_

iGTB, the Global Transaction Banking division of Intellect Design Arena Ltd, five Austrian Raiffeisen Regional Banks (Raiffeisenlandesbank Niederösterreich-Wien AG, Raiffeisen-Landesbank Steiermark AG, Raiffeisenlandesbank Oberösterreich Aktiengesellschaft, Raiffeisen-Landesbank Tirol AG and Raiffeisenlandesbank Vorarlberg Waren- und Revisionsverband regristrierte Genossenschaft mit beschränkter Haftung) and Raiffeisen Bank International (RBI), Vienna, a leading banking group in Austria and Central and Eastern Europe, have agreed a contract to implement a comprehensive digital trade finance platform.

The deal includes provision of both an advanced and intuitive client portal, as well as a full digital back-end infrastructure, thereby standardising Raiffeisen’s operations across numerous legal entities and client segments and providing guarantees, letters of credit, collections and financings through efficient digital channels.

The iGTB solution enables Raiffeisen to automate its operations better and adapt to continuing business and [market demands](https://www.financedigest.com/car-bulb-market-demand-supply-growth-factors-latest-rising-trend-and-forecast-to-2028.html "Car Bulb Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2028"). This includes the specifications for SWIFT’s [upcoming trade finance changes](https://www.financedigest.com/rd-tax-important-exemptions-and-upcoming-changes-for-the-it-software-industry.html "R&D Tax: Important Exemptions and Upcoming Changes for the IT & Software Industry") in 2018 and 2019 further simplifying operations and reducing costs for the banks.

**Sabine Zucker, Division Head Trade Finance & Transaction Banking Raiffeisen Bank** [International says:](https://www.financedigest.com/efg-international-says-profitability-improved-in-first-nine-months.html "EFG International says profitability improved in first nine months") “This is an important programme for us, driving not only excellence and important improvements in our offering to clients, but also digitising and streamlining our internal processes and creating further efficiencies. iGTB’s technology will help us harmonising our processes as well as [reducing risk and complexity in our operating](https://www.financedigest.com/just-in-time-jit-and-lean-accounting-streamlining-operations-and-reducing-waste.html "Just-in-time (JIT) and lean accounting: streamlining operations and reducing waste") model, with the concomitant benefits to our clients.”

**Hans-Jörg Preining, Division Head of Operations, Raiffeisen Landesbank Oberösterreich Aktiengesellschaft**: “Replacement of our current IT-system and selection of iGTB as partner for this important IT-project allows us to improve [services not only for our clients but also for our partner banks](https://www.financedigest.com/the-role-of-fintech-in-disrupting-traditional-banking-services.html "The Role of Fintech in Disrupting Traditional Banking Services") (our shareholders) for whom we already handle international documentary business. Our aim is not only to harmonise processes, increase efficiency, continue to meet internal and external regulatory requirements but also to be and remain [fit for the future](https://www.financedigest.com/employee-benefits-fit-for-the-workplace-of-the-future.html "Employee benefits fit for the workplace of the future"). We are convinced that in having selected iGTB as partner for this project, we will be able to strengthen our [current](https://www.financedigest.com/acne-scar-treatment-market-current-trends-and-future-aspect-analysis-2021-2031.html "Acne Scar Treatment Market Current Trends and Future Aspect Analysis 2021 – 2031") position in the market.”

“ _We are delighted to be working with Raiffeisen and helping them with their [trade finance services](https://www.financedigest.com/whats-in-store-for-2016-leading-online-trading-services-provider-easy-forex-reveals-predictions-for-the-new-year.html "WHAT’S IN STORE FOR 2016? LEADING ONLINE TRADING SERVICES PROVIDER EASY-FOREX REVEALS PREDICTIONS FOR THE NEW YEAR"). We have always believed it possible to simplify complex and disparate processes and build our software this way. Raiffeisen were pleased with this, and the opportunity it gives them to bring even more solid benefits to their customers. This [deal also represents an important](https://www.financedigest.com/indias-carmakers-back-zero-duty-on-limited-british-imports-under-trade-deal-sources.html "India’s carmakers back zero duty on limited British imports under trade deal – sources") milestone for us as we increase our existing presence in Europe,”_ adds **Manish Maakan, CEO** **of iGTB.**


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