Natech S.A. and its partner Neptune International AG announce a strategic joint venture with Piraeus Bank to create an innovative, independent BankTech, focusing on consumer financial services.
Piraeus Bank enters into strategic joint venture with Natech S.A. to develop an independent innovative digital bank for customers in Greece and the rest of the European Market for their financial and banking journey, according to 2022-2025 Business Plan of the bank.
The new BankTech, combining leading technological and banking expertise, will provide Banking-as-a-Service, Buy-Now-Pay-Later, digital onboarding and other Consumer Financial products, purely on a digital and agile manner.
Thanasis Navrozoglou, President and CEO of Natech, comments: „I am really excited about Natech’s new participation into this J.V. for the immense opportunities this creates for the Greek and European markets. Building on top of our current portfolio, the new digital bank offering will address both consumers and financial institutions, in Greece and Europe, throughout a pure digital experience. We will consistently continue to offer our portfolio and quality of services to our valued existing and to new customers and we shall open amazing new opportunities for them by augmenting their capabilities through the new Banking-as-a-Service proposition.”
Harris Antoniou, Founder and Managing Director of Neptune International AG comments: “The banking sector across the globe is going through a period of reorganization, largely due to rapid technological developments. Natech’s innovative technologies will provide strategic levers to both Piraeus and the new Banktech venture to allow them to rationalize operating costs and improve service delivery. Our objective through the Banktech venture is to revolutionize banking customer experience in Greece but also in the rest of Europe.”
The structure is expected to kick-off from the retail market segment, with Piraeus potentially contributing e-friendly customers, radically reducing costs and time to serve. In addition, by tapping the product offering opportunity, additional revenue is expected to be generated. Both these cost and revenue opportunities are not included in the current business plan.
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Natech S.A. is a leading IT services provider firm with a strong presence in the areas of financial services, retail, and manufacturing, as well as in the Greek public sector. For over 20 years, Natech has been providing robust banking technology and services to local, national and multinational banks, payment providers and challengers the world over. Customers rely on the company’s modular & easy to integrate solutions, combined with the unique live-ledger technology, reducing latency and risk between the banking front-end and back-office processes.
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Many more interesting quotes in the video below:
