Participants of Elevator Lab Program 2019/20 announced

Yesterday, the jury of Raiffeisen Bank International’s (RBI) Elevator Lab selected from 14 finalists six winners who will be allowed to participate in the third round of the Fintech Partnership Program. Supported by RBI experts and mentors, the participants will develop so- called PoCs (Proof of Concept), which they will present on the Demo Day at the beginning of March 2020. On this basis, RBI will evaluate possible cooperations. 

In September, the finalists were chosen from more than 280 applicants from over 50 countries, and now they were invited to pitch for participation in the Elevator Lab Program. Through this program, launched in 2017, RBI has already entered into 14 partnerships and joint initiatives with fintechs. “In view of the quality of this year’s six program participants, I am confident that we will enter into further cooperations,” commented Johann Strobl, CEO of RBI. 

The program participants come from the following areas: Large Corporates & Institutional Clients (Billon, billongroup.com), Cyber Security (imVision Technologies, imvisiontech.com), Retail Banking (Minna Technologies, minnatechnologies.com), Payments and Transaction Processing for Mobility Services (Nayax, nayax.com, as well as Quantoz Blockchain Technology, quantoz.com) and RegTech (Uhura Solutions, uhurasolutions.com). 

Joint search with Kapsch Group 

In the area of “Payments and Transaction Processing for Mobility Services”, RBI searched for suitable fintechs together with Kapsch Group. Now Nayax from Israel will develop a joint use case with RBI and Kapsch Group in the coming months. 

“Kapsch is also pursuing an open innovation strategy in order to gain valuable stimuli for our areas of competence, mobility and digitization. Since we had excellent experience with our group-owned accelerator program “Factory1″, I am very pleased about the cooperation with RBI and the entrepreneurs,” said Georg Kapsch, CEO of Kapsch Group. 

For more information on Elevator Lab please visit www.elevator-lab.com. 

Author: Yash Hirani

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