Raiffeisen Bank International (RBI) received Plug and Play’s Global Innovation Award for its innovation efforts and active engagement with fintechs and startups through its partnership programs. Despite the difficult situation in 2020, RBI and its subsidiary banks have entered multiple long-term collaborations with fintechs.

“We are very delighted to present the Global Innovation Award to Raiffeisen Bank International. We want to honour their innovation efforts through the Elevator Lab initiative and the high engagement with our Fintech Europe Ecosystem from their CEE subsidiaries. We are looking forward to another  great year ahead,” said Fernando Zornig, Program Director at Plug and Play Frankfurt.

About one year ago, RBI has announced its partnership with Plug and Play, the largest global innovation platform headquartered in Silicon Valley. Along with 80 other financial institutions across the world, RBI has joined Plug and Play's global ecosystem, leveraging the platform to  support  its comprehensive digital transformation strategy in the field of fintech. With this cooperation, RBI was able to expand its contacts within the fintech  ecosystem on a global scale. The bank has already a considerable fintech and startup partnership network due to its Elevator Lab Partnership Program, which is today the leading partnership program in Central and Eastern  Europe.

Christian Wolf, Head of Strategic Partnerships & Ecosystems, at RBI stated: “I  am proud that our partner Plug and Play has awarded Raiffeisen Bank International for its innovation efforts. This recognition is a great  encouragement to further pursue our innovation activities.  At  RBI,  and through our Elevator Lab Partnership Program, we constantly strive to improve customer experience, and therefore innovation in cross-industry, startup and fintech partnerships, are integral parts of our strategy.”