Joseph Giarraputo, Founder and Managing Editor at Global Finance, speaks with Sabine Zucker, Group Head of Transaction Banking at RBI, about the products and services needed to support cross-border growth through seamless transactions and continuity of operations in Central and Eastern European markets.
Drawing on RBI’s more than three decades of experience operating in these economies through 12 full-service banks, Zucker believes companies have a lot to be excited about when looking to the region’s future. From Serbia to Albania to Croatia, for example, GDP growth outpaces many of its counterparts in Western Europe.
However, companies need to be resilient in the face of the inevitable challenges brought about by uncertainty in today’s market environment, as well as geopolitical and compliance volatility.
Examples include the need for risk mitigation products such as guarantees and letters of credit. At the same time, experience in local banking and trade finance is vital to interpret and overcome requirements that vary from country to country.
More specifically, businesses expanding into the CEE region need robust and comprehensive cash and payment management solutions. In response, the Reserve Bank of India has developed CMIplus, a pioneering cash management platform designed from the ground up to support end-to-end treasury operations in real-time.
Effective trade finance solutions are also essential for supply chain management. These solutions are especially important for international companies that need longer guarantees for different types of business, which in turn requires local staff with field experience.
Watch this video to get more insights into what it takes for international companies to succeed in CEE markets, and how an experienced banking partner can help.
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