Raiffeisen Bank joins SAP Multi-Bank Connectivity network

Raiffeisen Bank Hungary has become the first bank in the Hungarian market to join the SAP Multi-Bank Connectivity (SAP MBC) network through a local partnership with SAP Hungary. This cloud-based business network provides a unified, managed connectivity layer between corporations and their banks.

Through this integration, corporate clients using SAP systems will be able to perform three core banking functions directly from their enterprise resource planning environments: initiating domestic HUF and SEPA payments via API, accessing bank statements in a standardized format, and querying real-time account balances.

This automation aims to reduce manual data entry and verification while providing treasury departments with more up-to-date information regarding financial positions and ongoing transactions. Ferenc Kementzey, Deputy CEO for Corporate, Capital Markets, and Investment Banking at Raiffeisen Bank, stated that the connection between banking and corporate financial systems will become simpler and more direct through this innovation.