Marqeta, a card issuing platform, has teamed up to power Raiffeisen Centrobank’s new Raiffeisen Digital Bank, a move that will allow customers in Poland and Romania to avail a comprehensive banking experience with streamlined digital accounts and debit cards.

Developers at Raiffeisen Centrobank will stand to benefit from Marqeta’s speed and scale to develop a new digital banking service at a fast-paced timeline and speed up the launch of the product in several markets in Europe.

The investment bank will be able to benefit from Marqeta’s approach to integration and comprehensive open APIs, with plans to produce an end-product that comes with modern design and delivery.

Using mobile devices, customers of Raiffeisen Digital Bank brand will be able to access their accounts. Customers will also be able to access contactless phone and card payments, and also easily monitor transactions.

Raiffeisen Centrobank board of management member Alexey Kapustin said: “We have seen growing demand for simple digital banking products with the instant reaction time over the last years from consumers in our regions.

“To address these needs we have built the modular modern banking engine where we have leveraged one of the best cloud solutions on the market. By partnering with Marqeta, we are excited to deliver innovative digital card products that address these emerging customer needs.

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Marqeta SVP and managing director for international Jeff Parker said: “More large financial institutions are finding a need for innovative and flexible banking solutions to keep up with customer demand.

“We’re proud to partner with Raiffeisen Centrobank to complement their existing suite of products with the latest tools and functionality that consumers are seeking from their banks today. We look forward to supporting their continued growth, and helping them move their business forward.”

Based in Oakland, California, Marqeta is certified to operate in 39 countries.

Marqeta’s open APIs offer quick access to cloud-based payment infrastructure that allows customers to introduce and manage their own card programmes, issue cards and authorise and settle payment transactions.