Piraeus Bank is to build a new online-only independent bank for customers in Greece and the rest of the European market, capitalising on digital trends in banking-as-a-service and buy now, pay later.
The Greek bank has partnered with local IT service provide Natech on the venture, which it says will provide "Banking-as-a-Service, Buy-Now-Pay-Later, digital onboarding and other Consumer Financial products, purely on a digital and agile manner".
Thanasis Navrozoglou, president and CEO of Natech, comments: "Building on top of our current portfolio, the new digital bank offering will address both consumers and financial institutions, in Greece and Europe, throughout a pure digital experience. We will consistently continue to offer our portfolio and quality of services to our valued existing and to new customers and we shall open amazing new opportunities for them by augmenting their capabilities through the new Banking-as-a-Service proposition.”
The digital-only bank will kick off with a focus on the retail consumer segment, with Piraeus directing "e-friendly" customers to new entity.