Nearly 7 out of 10 accounts of individual entrepreneurs are opened online at Raiffeisen Bank

Since the launch of digital onboarding in MyRaif on 30 June, more than 1,5k entrepreneurs have opened accounts via the app. Around one-third of them had not previously used Raif’s services. The rest were already the bank’s customers as private individuals and used MyRaif to open accounts for their businesses. 

If a user is already the bank’s customer as a private individual, they can open an account of an individual entrepreneur without having to complete the identification process again: the app automatically verifies their details in the Unified State Register. For users who have not registered as individual entrepreneurs yet, MyRaif is integrated with the Diia service, which allows them to register as individual entrepreneurs and open an account in a single process.  

“We can see that the digital channel is gradually becoming the primary way for individual entrepreneurs to open accounts with Raif. Our task is to reduce the time entrepreneurs spend on banking, allowing them to get back to developing their businesses more quickly,” said Olena Shpyrka, head of business banking customers development. 

Entrepreneurs opening an account online in MyRaif can take advantage of “My Individual entrepreneur” package, which offers free of charge account opening and servicing, outgoing payments, transfers to own card, as well as free of charge cash withdrawal at the bank’s ATMs of up to UAH 20k per month. 

Raiffeisen Bank currently services more than 130k customers - individual entrepreneurs.