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Raiffeisen Bank International | Sustainability Report 2017
GRI content index / Assurance statement Engaged citizen Fair partner Responsible banker Sustainability management Overview Foreword
This means that we strive to offer products which offer specific benefits to society, the environment and the real
economy while minimizing the range of products on offer that present a risk to society or the environment. No
products that are banned or the subject of public debate were offered or sold during the 2017 reporting period.
We give special attention to the innovation and continuous development of our products. This is ensured through
group-wide product competence centers. Our broad range of products and innovative banking solutions are
important building blocks for the high level of satisfaction and loyalty among our customers. The consistent
development of our range of products and services with a special focus on transparent and customer-friendly
solutions as well as easy access to information, short decision-making procedures and sustainable development
will continue to strengthen the position of RBI. As part of this, internal procedures were standardized and the risk
classification process improved. In order to expand the range of what we offer our customers, we work
continuously to develop innovative products while giving attention to trends and developments in the market.
The topic of digitization continues to represent a central strategic challenge for RBI.
Changed circumstances in the field of competition, new technologies and business models, rapidly changing
customer requirements and new, upcoming companies entering the market are additional challenges faced
by RBI. It is often difficult to implement complex, deep-seated innovation in large international companies.
Nevertheless, this is the key to remaining competitive. Innovative methods, such as prototyping, customer tests
and concept tests, help us test out ideas, products and processes at the start of the development cycle. This is
intended to help avoid poor investments and undesirable developments, but it also makes it possible to predict
the potential market success even at an early stage in development. By getting a diverse range of people
involved in the tests, it is possible to create and improve products and services much more cost-effectively.
Materials and personnel resources are used more efficiently in this way.
Against this backdrop, RBI has initiated projects such as the Elevator Lab and the Intrapreneurship program
in order to respond to digital structural changes. The Intrapreneurship program is about more than just actively
promoting entrepreneurial spirit within the organization. It is intended to motivate employees to pursue their
own ideas and fully realize the potential of these ideas within an innovation-friendly corporate culture. The
Intrapreneurship program should serve to accelerate innovation within existing structures. On June 1, 2017, the
accelerator program “Elevator Lab” was presented by Johann Strobl, CEO of RBI, at the founder and technology
festival “Pioneers”. The Accelerator program is the first FinTech accelerator in Central and Eastern Europe.
Specifically, the program seeks out later stage start-ups in the areas of SME banking, big data analytics,
RegTech, payments and transactions, branch of the future and investing and trading tech. The aims of the
collaboration include long-term cooperation as well as expansion of our own product and service portfolio.
RBI follows a standardized product introduction process that applies to all new products, product combinations and
variations throughout the entire network. We intend to ensure that every product is offered in an optimal form and
all risks associated with a product are disclosed.