Raiffeisen and CoCoNet team up for new corporate offering

By Megha Bhattacharya

Swiss banking group Raiffeisen today announced a collaboration with software provider CoCoNet with an aim to launch a new joint service offering for corporate customers of the Raiffeisen banks.

“After a thorough evaluation, we have decided in favour of the MULTIVERSA products. In addition to the range of functions especially designed for corporate customers and the convincing front-end, the comprehensive EBICS expertise of the CoCoNet team was a decisive factor”. Markus Beck, Head of Payment Transactions for Corporate Customers at Raiffeisen Switzerland, commented.

According to the companies, the solution supports payment transactions and cash management for small companies along with a fully integrated set of functions. In an initial phase, this includes standardized data exchange, payment release, interbank retrieval of account information, tools for liquidity planning and management and creation of payment orders. The platform will be expanded to include additional functions, such as customer self-service. The project will be implemented on the basis of CoCoNet’s MULTIVERSA products.

Björn Hassing, CEO of CoCoNet, added, “We are very pleased to have won a new customer in Switzerland with the Raiffeisen Banking Group. With our products and services we want to continuously improve the cooperation between banks and their corporate customers. We focus on digitised processes and good usability.”

The newly launched service is expected to go live in Spring 2021.

Recently, investment platform, Bitpanda announced a partnership with Raiffeisen Bank International (RBI) in a bid to implement its blockchain-interoperability project Pantos on the RBI Coin. RBI Coin is a next-generation digital cash solution for inter-bank and inter-company payments to streamline cash and liquidity management and introduce new banking products to corporate and institutional customers.