Raiffeisen Bank International API marketplace

Main article: Application Programming Interface (API)

2020: Start of an expanded API marketplace

The international banking group Raiffeisen Bank International (RBI) started an expanded API marketplace which will become the platform for interaction with other market participants and will allow to develop products and services jointly. On November 17, 2020 Raiffeisen Bank reported about it. Corporate clients of RBI will be able to use the platform to build in services of bank the internal systems, they will become available to individuals through third-party providers. On the updated API marketplace of RBI it is possible to find detailed descriptions of API products and to get instant access to a sandbox to test the solution in the safe environment. RBI an API marketplace integrates several portals of development of RBI, and thus serves as uniform point of entry for any market participant who will want to join the developing ecosystem of RBI.

We with interest will watch what applications by our API will be found by developers, – Christian Wolf, the head of department of strategic partnership and ecosystems of RBI noted. – A little more than a year ago the second Directive on payment services (PSD2) became effective that pushed us to this initiative. However, in addition to the API interfaces connected with PSD2, our API marketplace opens access to the interfaces in the markets of Central and Eastern Europe which are going beyond regulation of the directive. We want to expand opportunities for interaction and to create a basis for development of a bank partner ecosystem in this region.

High quality of customer service during a digital era – a priority for RBI. The pandemic confirmed as far as the importance for high-quality client experience purchases instant, seamless and uninterrupted digital interaction between the companies of the different industries in a safe financial ecosystem with a great number of the entrusted partners. The updated API marketplace will allow RBI developers to become closer to 16.8 million clients and to create the products ground under their requirements which will allow to send, for example, money transfers by SMS, to control the family budget in one interface, to make out a mortgage, without leaving the house, or to buy an insurance in one click. Within updating of an API marketplace considered expectations of new group of partners – external developers; the improved user experience during the work with the platform will allow to develop comfortable cooperation.

Links

Link to an API marketplace