case study

Raiffeisenbank offers cloud services to SMB customers, attracts target audiences, is noted for innovation


JSC Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. The Bank has been operating in Russia since 1996. Raiffeisenbank is one the ten largest Russian banks in terms of assets, consumer deposits and loans (according to Interfax-CEA). It is also recognized as one the most reliable banks in Russia.
Situation
Initially, the bank's management was focused on growing its client base in the small and medium business segment. SMB segment has been strategic for Raiffeisen as a full-service bank, since these prospects are looking for both a wide range of banking products and services, for quick small business launch offerings, and easy management tools.
Based on the market research, the bank management team captured the growing demand for additional services in this segment: online accounting, website design and hosting, warehouse inventory management, sales and project management tools. Launching the new services offering required creating a technical solution that would automate the entire life-cycle of these services, from buying to usage.
The new solution was to be built on the base of a platform for selling cloud products. The new system would need to be designed to automate order creation, billing, and renewal. The customer interface required an online store, connected to the brokerage platform. It needed a simple, user-friendly interface to assure a comfortable customer experience.
Analysis
The new solution was to be built on the base of a platform for selling cloud products. The new system would need to be designed to automate order creation, billing, and renewal. The customer interface required an online store, connected to the brokerage platform. It needed a simple, user-friendly interface to assure a comfortable customer experience.
While selecting a cloud platform supplier, Raiffeisenbank considered several providers. The main selection criteria were: relevant SMB services in the catalogue, platform functionality and automation capabilities for ordering, functional subscription management, as well as tech support quality and speed of response. Having analyzed the existing vendors on the market, the bank chose to go with the project supported by ActivePlatform.
Solution

The ActivePlatform team designed and integrated a full-service platform, including a customer online store, billing with order management, subscriptions activation, payment center, and operational support for all the components in the brokerage system selling cloud services for Raiffeisenbank. The platform helped Raiffeisenbank to launch new services for managing and growing their SMB business. The offering included cloud applications for accounting and tax management, for retail and warehouse inventory management automation, CRM, cloud hosted corporate email, website design and hosting tools and other products.
Thus, the new offering included a comprehensive list of SaaS-solutions for medium and small businesses, as well as banking products. Upon opening a new checking account, Raiffeisenbank's new clients can access the bank's online store with cloud services for SMB, and are eligible for three-months of free services from its catalogue.
This initiative made a positive impact on the company's reputation, since significant numbers of tractions in media helped us improve our brand recognition. Clearly, our offering of these cloud services was a key deciding factor for a number of customers when choosing a bank for their new business accounts.
Maxim Glazov, SMB Project Manager, JSC "Raiffeisenbank"
Results
The project with Raiffeisenbank was a unique pilot for financial institutions in Russia. However, in just three months since the launch of this offering, the bank began recognizing the outcome: an increased number of new accounts opened, improved brand loyalty and additional sales revenue from cloud services. Thanks to the realization of synergistic banking products and cloud services, the bank has become a one-stop-shop for small business customers, proving the benefits of the innovative, unique designs that ActivePlatform now offers the market.
Raiffeisenbank's initiative to use cloud services supported by ActivePlatform was recognized as the best marketing idea for banks in 2014 by the Association of Russian Banks.
This project has evolved to include successive cloud service portfolio extensions: furthering the success of medium businesses, and most recently, for large corporate customers. These innovations in cloud services have allowed large corporate entities to save significantly on capital investments in IT, thus shifting IT expenditures to operating costs.
We feel that small business needs not only traditional business banking, but a lot of other services to assure business success. In demand, for example, are accounting software as a service, tax filing systems and business web-site design. Raiffeisen bank was one of the first banks to make cloud services for small business available to its clients with the goal of making these business services affordable and easily accessible.
Roman Zilber, Head of Client Relations, Premium Clients and Small Business, JSC "Raiffeisenbank"
* In 2014, the ActivePlatform project team was a part of the Softline group of companies, incubated inside ActiveCloud, a leading service provider in Belarus. At that time many ActivePlatform project team members held titles as ActiveCloud employees.