Question 1

What is Raiffeisen Digital Bank?

Accepted Answer

Raiffeisen Digital Bank is a fully digital Austrian credit institution specializing in digital banking products and services for private individuals. Based in Vienna, it operates as a 100% subsidiary of Raiffeisen Bank International AG, one of the leading banking groups in Austria and Central and Eastern Europe.

The bank focuses on providing fast, effortless, and fully digital banking solutions, including online loans, current accounts, payment services, and mobile banking applications.

Question 2

When was Raiffeisen Digital Bank founded?

Accepted Answer

Raiffeisen Digital Bank was founded in December 2022 as a standalone institution. Its origins trace back to June 2021, when a new "Digital Retail" division was created within Raiffeisen Centrobank AG (RCB) under the leadership of Alexey Kapustin as responsible Board member.

The first product, a digital loan in Poland, was launched under the "Raiffeisen Digital Bank" brand in late 2021. Following the demerger of RCB's Certificates and Equity Trading business to Raiffeisen Bank International AG in December 2022, the Digital Retail division, together with its support functions, was established as Raiffeisen Digital Bank AG in its current form.

The bank carries the Raiffeisen name, honoring Friedrich Wilhelm Raiffeisen, who founded the cooperative banking movement in Germany in 1862. The first Raiffeisen bank in Austria was established in 1886 in Mühldorf, near Spitz an der Donau.

Question 3

Where is Raiffeisen Digital Bank headquartered?

Accepted Answer

Raiffeisen Digital Bank is headquartered in Vienna, Austria, at Am Stadtpark 9, 1030 Vienna. This location is shared with its parent company, Raiffeisen Bank International AG, and is accessible via multiple public transportation options including subway lines U3 and U4, the CAT City Airport Train, and various S-Bahn lines to the Landstraße Wien Mitte station.

Question 4

Where does Raiffeisen Digital Bank operate?

Accepted Answer

While headquartered in Austria, Raiffeisen Digital Bank operates primarily in international markets, with a significant focus on Poland. The bank offers its fully digital loan products and comprehensive mobile banking solutions, including current accounts, payment services, debit cards, savings accounts, and online term deposits, exclusively to Polish residents.

As an Austrian-licensed credit institution, it leverages its state-of-the-art digital banking platform to serve customers across borders. The bank also maintains a subsidiary, RBI Retail Innovation LLC, in Kyiv, Ukraine, supporting its regional expansion efforts.

Question 5

What services does Raiffeisen Digital Bank offer?

Accepted Answer

Raiffeisen Digital Bank offers a comprehensive suite of digital banking services designed for modern consumers. Fully Digital Loans provide cash within minutes through a completely digital process, featuring fixed interest rates without hidden fees, flexible repayment options, and credit decisions after creditworthiness assessment.

Current Accounts can be opened fully digitally with no account fees, free domestic transfers within Poland, and no minimum transaction requirements. Customers receive a free virtual Visa Gold debit card, with support for Google Pay and Apple Pay, and commission-free withdrawals from contactless ATMs both domestically and abroad.

Mobile Banking App features include transaction history viewing, automatic categorization with "Lenses" to track spending patterns, account management, card limit adjustments, and the ability to open accounts using NFC and selfie identification. The bank also offers Savings Accounts and online term deposits, all managed through its intuitive mobile application available on both iOS and Android platforms.

The bank employs advanced encryption technologies and regularly updates security measures to ensure customer data protection.

Question 6

What makes Raiffeisen Digital Bank unique?

Accepted Answer

Raiffeisen Digital Bank distinguishes itself through its fully digital-first approach, eliminating the need for branch visits entirely. All banking operations, from account opening to loan applications, are completed digitally within minutes using just a smartphone, selfie, and ID card.

The bank's proprietary mobile banking platform leverages state-of-the-art technology and features automatic transaction categorization through "Lenses," helping customers understand their spending patterns effortlessly. Its commitment to transparency is evident in its fee structure—truly free current accounts with no hidden charges or minimum balance requirements.

As a subsidiary of Raiffeisen Bank International, the bank combines the innovation of a digital challenger bank with the trust and stability of one of Central and Eastern Europe's largest banking groups. The bank also emphasizes environmental responsibility by promoting digital debit cards over physical ones, reducing plastic waste.

Its Austrian banking license and regulatory supervision by the European Central Bank (ECB) and Austrian Financial Market Supervisory Authority provide customers with robust regulatory protection.

Question 7

What type of financial institution is Raiffeisen Digital Bank?

Accepted Answer

Raiffeisen Digital Bank AG is classified as a Kreditinstitut (credit institution) under Austrian banking law. This designation means it holds a full Austrian banking license and is authorized to conduct comprehensive banking operations.

As a credit institution, it is subject to regulatory supervision by multiple authorities including the Austrian Federal Finance Ministry, the Austrian National Bank (OeNB), the Austrian Financial Market Authority (FMA), and the European Central Bank (ECB) through the Single Supervisory Mechanism (SSM). The bank operates under the Austrian Banking Act (BWG) and is a member of the Business Chamber Austria's Federal Bank and Insurance Category, specifically the Professional Association of Raiffeisen Banks.

It participates in Austria's deposit guarantee scheme (Einlagensicherung Austria) through the Raiffeisen-specific scheme (Österreichische Raiffeisen-Sicherungseinrichtung eGen), which protects customer deposits according to European standards.

Question 8

What is Raiffeisen Digital Bank's relationship with its parent company?

Accepted Answer

Raiffeisen Digital Bank AG operates as a 100% subsidiary of Raiffeisen Bank International AG (RBI), one of Austria's leading corporate and investment banks with extensive operations across Central and Eastern Europe. This ownership structure provides Raiffeisen Digital Bank with access to RBI's extensive infrastructure, expertise, and financial stability.

The bank explicitly adheres to the RBI Group Code of Conduct, which establishes core values including Customer Orientation, Professionalism, Quality, Mutual Respect, Initiative, Teamwork, and Integrity. It also follows the principles of the Austrian Code of Corporate Governance.

The Management Board consists of Christian Slavik (CEO) and Tadeas Horky (Member of the Management Board), with oversight from a Supervisory Board chaired by Andrii Stepanenko and Hannes Mösenbacher, both Management Board members of RBI. This governance structure ensures strong alignment with the broader Raiffeisen Banking Group while maintaining operational independence to pursue its digital banking mission.

Raiffeisen Digital Bank

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About Raiffeisen Digital Bank in Austria