Raiffeisen Banking Group, Austria's largest banking group with 2.8 million customers, and Scalable Capital have formed a partnership to implement a digital wealth management solution.
Called "WILL", the B2B white label solution is directly integrated into Raiffeisen Banking Group Austria's online banking system and is available locally at its regional banks for existing and new customers, with portfolios including ETFs and funds from Raiffeisen Capital Management, Kepler-Fonds and BlackRock. WILL is already available at all Raiffeisen Banking Group Austria banks in Upper Austria, Lower Austria and Vienna and will soon be offered nationwide.
Erik Podzuweit, co-founder and co-CEO of Scalable Capital (pictured left), said: "With the Raiffeisen Banking Group Austria we add another well-known provider to our international cooperation partners. The cooperation underlines our position as Europe's leading provider of white-label solutions for digital wealth management. We want to continue to expand our B2B business in the future."
Florian Prucker, co-founder and co-CEO of Scalable Capital (pictured centre), added: "Thanks to our modular technology we were able to integrate WILL seamlessly into the special regional structure of the Raiffeisen Banking Group Austria. Account and portfolio are managed locally by Raiffeisen Banking Group Austria. Customer experience is our top priority. With WILL, customers of the Raiffeisen Banking Group Austria have access to simple and sustainable investments for wealth accumulation."
The Raiffeisen Banking Group Austria is the largest banking group in the country with some 24,700 employees at 1,976 branches. Alongside Raiffeisen Banking Group Austria, the digital wealth management solutions of Targobank and Openbank are delivered using the technology platform of Scalable Capital. Targobank is one of Germany's leading retail banks with more than four million customers, while Openbank is the digital bank of Spain's Santander Group, Europe's second-largest bank by customer numbers. Scalable Capital also operates the digital wealth management platform for ING Germany, Siemens Private Finance and Oskar, the digital asset manager for families, amongst others.