Transaction

In conversation with Sabine Zucker, Head of Group Transaction Banking at Raiffeisen Bank International

Joseph Giarraputo, Founder and Editorial Director of Global Finance, speaks with Sabine Zucker, RBI’s Head of Group Transaction Banking, about the products and services required to support cross-border growth with smooth transactions and operational continuity in CEE markets.

Based on RBI’s over three decades of experience operating in these economies with 12 full-service banks, Zucker believes corporates have a lot to be excited about when looking at the region’s future. From Serbia, to Albania, to Croatia, for example, GDP growth is outpacing many Western European counterparts.

Yet companies need to be flexible in the face of the inevitable challenges stemming from uncertainty in today’s market environment as well as fluctuating geopolitical and compliance landscapes. 

A case in point is the need for risk mitigating products like guarantees and letters of credit. At the same time, local transaction banking and trade finance expertise is vital to interpret and overcome requirements that differ from country to country.

More specifically, companies expanding into the CEE region need robust and comprehensive cash management and payment solutions. In response, RBI developed CMIplus, a flagship cash management platform designed from the ground up to support real-time, omnichannel treasury operations

Effective trade finance solutions are also essential to managing supply chains.These are particularly important for those international corporates that need longer guarantees for different types of business, in turn calling for local staff with on-the-ground expertise.

Watch this video to get further insights into what it takes for international businesses to succeed in CEE markets, and how an experienced banking partner can help.

Unlock your business potential with insights and best practices from Raiffeisen Bank International straight to your inbox. Get your guide to expanding your business 

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Standard Bank: Reimagining Transaction Banking in Africa

In Africa, companies across sectors and markets have an acute need for frictionless payments. Ongoing challenges in moving goods, managing import cycles and distributing products with certainty have made effective Payments, Working Capital and Trade Finance solutions a priority.

Businesses need speed, flexibility, visibility and control of their payment flows. In response, Standard Bank’s OneHub business platform harnesses Artificial Intelligence (AI), machine learning, Cloud-based computing and application programming interfaces (APIs) to integrate payment features within client Apps, systems and architecture.

“Leveraging our deep insights and knowledge about our clients and the sectors and industries within which they operate, we spend a lot of time innovating for bespoke Payments, Working Capital and Trade Finance solutions,” said Crosby.

Giving customers what they need

The OneHub business platform provides more than what Standard Bank alone can deliver. Not only does it enable access to all the bank’s solutions and the bank’s partners’ solutions, it also offers important features that help clients with their Working Capital and Payment cycles.

“We partner with fintechs and other organisations to deliver holistic, best-in-class solutions,” said Crosby. “We find that works very well in staying ahead and being competitive.

This approach reflects his view that in such a competitive landscape, the bank’s strategy should be shaped by client engagement and knowing the customer, which are key components to innovation.

Standard Bank is well-positioned for this, with a footprint in many markets throughout the continent. “We understand the risk very well. We understand the logistics and various mechanisms of the underlying Working Capital cycles.  And we play a strong role in financing,” Crosby explained.

Swift and smooth

Digital innovation has become key to complementing this physical presence. For example, it has helped Standard Bank deliver bespoke Payment solutions for the healthcare industry in Ghana to ports authorities in Kenya and across East Africa.

More specifically, the technology architecture and systems the bank uses, play a critical role in creating frictionless Payment solutions that are fast, efficient, reliable and secure – essentials for Transaction Banking.


“We leverage the Cloud because the hyperscalers give us significant computing power as well as other out-of-the-box solutions. When appropriately deployed, it’s a strategy that lowers operating costs, requiring only the purchase of Cloud capacity.”

Crosby Mkhwanazi, Head of Transaction Banking at Standard Bank


Modularised services have also proved effective in keeping the technology architecture dynamic, so the bank can innovate quickly and deliver the right solutions.

Further, Mkhwanazi points to connectivity via APIs and automation – at both the front- and back-end – as other core components for frictionless Payments. This applies either through pre-populating information for efficient web-based Payments or by integrating directly into a client’s system. “That enables clients to lower costs and to achieve near real-time Payments, to the extent possible within the bounds of applicable regulations.”

New partners, new solutions

Understanding what clients need also informs Standard Bank’s future digital transformation agenda within Transaction Banking, driving its innovation cycle.

As a result, solutions for telecom companies are on the horizon, for example. “We are working with telcos around accessing banking infrastructure to deliver Payments to allow for better access into the areas where perhaps, as banks, we haven’t reached before,” said Crosby.

Remittances have swiftly become a cornerstone of foreign currency inflows for many African nations. For Standard Bank, this represents a pivotal opportunity by: reimagining the remittance experience, Standard Bank aims to empower communities and drive broader economic inclusion across the continent.  “Not only is it about enhancing accessibility and expanding distribution, but also about ensuring seamless foreign exchange availability and reducing the overall cost of sending money home.” Crosby explained.

Such an ambition reinforces Standard Bank’s broader focus: being a trusted partner in a continent where it has pioneered change for over 160 years, crafting bespoke agile, relevant and market-leading products and services, tailored for clients’ growth and success.

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Pix Becomes Brazil’s Top Transaction Method

The massive growth in digital payments in Brazil has reached yet another milestone.

As of the end of 2024, Pix, the country’s government-backed system that enables citizens to exchange funds seamlessly via their mobile phones, has become the country’s preferred method of transactions, surpassing cash, credit cards, and traditional interbank electronic transactions.

According to numbers from the Banco Central do Brazil, 76.4% of the country’s 211 million population now use Pix, followed by debit cards at 69.1% and cash at 68.9%.

“Pix has transformed the Brazilian economy; it expanded financial inclusion, formalized part of the informal economy, and gave the government greater visibility into transactions,” explains Reginaldo Nogueira, national director at the Brazilian Institute of Capital Markets (Ibmec).

“It’s not just a payment innovation; it’s a structural reconfiguration of how money circulates and how the state collects revenue,” he adds. According to the Brazilian Banking Federation, there were 68.7 billion Pix transactions in 2024 alone, a massive 52% increase from the prior year, reaching roughly $5 trillion in value.

The massive uptick was due to increasing person-to-business transactions via the system, which recorded a 90% year-on-year jump in 2024, according to a study by Matera Research.

Pix recorded its largest one-day volume on December 20, 2024, when the system handled 252.1 million transactions.

“The central bank’s digitalization agenda, led by Pix, is in full swing and transforming how Brazilians make payments,” said Rodrigo Teixeira, director of administration at the central bank. The central bank aims to expand PIixs functionalities into the credit side, incorporating features such as installment payments and enabling future Pix transactions to be accepted as collateral in lending transactions.

Pix is also growing on the stablecoin side, with the central bank recording a massive increase in Tether (a stablecoin pegged to the US dollar) transactions over Pix this year. Courtnay Guimarães, head of Digital Assets at Bradesco Bank, explains, “With a crypto account and Pix, anyone can convert funds in real time, gaining access to up to 180,000 assets globally.”

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Must-watch TV: Jeremy Vine’s new puzzle game and ITV’s Transaction breaks boundaries

Jeremy Vine and Ken Bruce front two new quiz shows this week, promising plenty of mind-bending twists this week. But there are also plenty of dramas for fans of explosive thrills.

New shows will keep everyone entertained this week
New shows will keep everyone entertained this week

Prince William and Princess Anne have shaped modern monarchy in their own way – so it’s no surprise Channel 5 is dedicating two documentaries on the heir to the throne and the Princess Royal this week.

The broadcaster has also promised exciting challenges ahead with Celebrity Puzzling, a brand new puzzle game show in which Jeremy Vine defies household names to the ultimate puzzle game.

Ken Bruce follows a similar theme on Channel 4 with his PopMasterTV heading to the small screen. ITV2, on the other hand, is introducing a ground-breaking comedy with Jordan Gray taking the lead in Transaction. Here are all the shows you need to keep an eye on this week.

READ MORE: Boots’ No7 serum that ‘reverses’ signs of skin damage sold every 7 seconds

Prince William is at the centre of a new documentary this week on Channel 5
Prince William is at the centre of a new documentary this week on Channel 5(Image: UEFA via Getty Images)

Prince William: Passion, Honour…

Saturday, 5

Prince William takes centre stage in this candid and revealing documentary that charts his journey from childhood to the present day. Using rare archival footage and key interviews, it explores his upbringing, relationship with his mother, Princess Diana, and very public fallout with Prince Harry.

Poised to be kind, William is presented not just as a royal, but as a man shaped by loss and duty. It’s a fascinating portrait of a prince on the brink of kingship and a man navigating family, fame and the future.

Busted were among many favourites featured on the stage of Capital's Summertime Ball this year
Busted were among many favourites featured on the stage of Capital’s Summertime Ball this year(Image: GETTY)

Capital’s Summertime Ball

Sunday, ITV

Couldn’t make it to Wembley? Rest assured – ITV brings the party to your living room. Hosted by Sian Welby, Chris Stark and Jordan North on Capital Breakfast, this year’s Summertime Ball is packed with performances from the biggest stars around: Mariah Carey, McFly, even rising sensation Lola Young.

With Eurovision favourites Remember Monday also hitting the stage, expect fireworks, sing-alongs and feel-good vibes in one of the UK’s most anticipated music events of the summer.

The Gilded Age is back on Sky with a third season
The Gilded Age is back on Sky with a third season(Image: © Home Box Office, Inc. All rights reserved. HBO® and all related programs are the property of Home Box Office, Inc.)

The Gilded Age

Monday, Sky

Back with its third season, The Gilded Age is a deliciously dramatic look at the clash between old money and new ambition in 1880s America.

Bertha Russell (Carrie Coon) has her eyes set on social domination while her husband George (Morgan Spector) risks everything in a financial gamble.

With stunning visuals, iconic returns from Cynthia Nixon and Christine Baranski, and cutthroat stakes, it’s a lavish, addictive drama about legacy, power and what people will do to keep their place in history.

Ken Bruce brings his iconic quiz show to the small screen for Channel 4
Ken Bruce brings his iconic quiz show to the small screen for Channel 4(Image: PA)

PopMasterTV

Monday, C4

Ken Bruce brings his beloved music quiz to TV, and it’s as charming as ever. Five music buffs face off in a battle of pop trivia, racing through decades of chart history in a fame where memory is everything.

With singalong classics, retro facts and Ken’s dry wit holding it all together, PopMasterTV is a nostalgic gem. Whether you’re a chart nerd of a casual fan, it’s the kind of feel-good, comforting telly that’ll have you shouting answers from the sofa.

Crime Scene Cleaners

Monday, C4

Behind every crime scene lies a brutal mess – and a clean-up crew willing to face the unthinkable. This ten-part series follows real-life trauma cleaners in the UK and US as they scrub, sanitise and support victims’ families through unimaginable loss.

From robberies to gruesome murders, it’s gritty, graphic and gut-wrenching – but also deeply humane. With 24/7 call-outs and extraordinary compassion, Crime Scene Cleaners shines a light on the unsung heroes helping others start over – one horrific job at a time.

Jeremy Vine challenges household names like Carol Vorderman and Sally Lindsay to resolve mind-bending puzzles
Jeremy Vine challenges household names like Carol Vorderman and Sally Lindsay to resolve mind-bending puzzles

Celebrity Puzzling

Tuesday, 5

It’s brains over brawn in this cosy celebrity competition hosted by Jeremy Vine. Team captains Carol Vorderman and Sally Lindsay star with their celeb squads, going head-to-head in battles of logic, memory, wordplay and wit.

With laugh-out-loud moments, surprisingly tense showdowns and appearances from stars like Gareth Malone and Scarlett Moffatt, Celebrity Puzzling is perfect telly for puzzle lovers. It’s gentle, satisfying and the perfect watch to unwind.

Jordan Gray fronts a hilarious new comedy on ITV2, portraying a reluctant nightshift worker
Jordan Gray fronts a hilarious new comedy on ITV2, portraying a reluctant nightshift worker(Image: ITV)

Transaction

Tuesday, ITV2

Jordan Gray is a force of nature in this chaotic comedy about Liv, a trans nightshift worker who makes her supermarket shift anything but ordinary.

Hired as a PR stunt after the manager (Nick Frost) makes an offensive remark, Liv quickly realises she’s unsackable – and uses it to cause glorious havoc.

Transaction is sharp, silly and proudly anarchic, with Jordan’s wild charisma driving every scene. It’s messy, loud and defiant – and one of the boldest new British comedies in ages.

Ironheart

Tuesday, Disney+

After the events of Wakanda Forever, Riri Williams takes the MCU baton in Ironheart, a sleek new Marvel series where tech meets magic.

Dominique Throne shines as Riri, an MIT genius caught in a dangerous game with the mysterious Parker Robbins (Anthony Ramos). As tensions rise between science and sorcery, Riri must build more than a super-suit – she has to build her own legacy. Big on action, packed with heart and essential for Phase Five fans, this is Marvel’s next big swing.

The Kim Kardashian Diamond Heist

Wednesday, BBC3

In 2016, Kim Kardashian was tied up at gunpoint in a Paris hotel and robbed of millions in jewels – a crime that shocked the world. This gripping BBC doc unpacks the full story, from police investigations and trial footage to interviews with journalists and those close to the US reality TV star.

Revisiting that terrifying night and the global fallout, this documentary uncovers details that were kept quiet – until now. It’s glossy, revealing and surprisingly emotional.

Amol Rajan reconnects with his Indian roots in a powerful documentary
Amol Rajan reconnects with his Indian roots in a powerful documentary(Image: CREDIT LINE:BBC/Wildstar Films)

Amol Rajan Goes to the Ganges

Wednesday, BBC1

Amol Rajan embarks on a moving and personal journey to India’s Maha Kumbh Mela, the world’s largest religious gathering. Surrounded by millions of pilgrims and extraordinary rituals, he reflects on faith, family and identity – while reconnecting with his birthplace.

This isn’t just a documentary about spectacle; it’s a deep, soulful exploration of belonging and spirituality. Beautifully shot and quietly profound, this one-off hour captures something few travel shows ever do: the emotional pull of home and the power of belief.

Jeremy Allen White reprises his role as Carmy in The Bear's fourth season
Jeremy Allen White reprises his role as Carmy in The Bear’s fourth season(Image: Brentwood Gazette)

The Bear

Thursday, Disney +

Carmy (Jeremy Allen White) is back in the kitchen for season four, and the heat is on. With the restaurant gaining momentum and the stakes rising, Carmy, Sydney (Ayo Edebiri) and Richie (Ebon Moss-Bachrach) face new hurdles that threaten to boil over.

A raw, intense exploration of ambition, grief and grit, The Bear mixes chaos and tenderness with razor-sharp precision. Get ready for more kitchen meltdowns and quiet victories in this unmissable drama.

Will Gi-hun be able to stop the game once and for all?
Will Gi-hun be able to stop the game once and for all?(Image: No Ju-han/Netflix)

Squid Game

Friday, Netflix

The global hit reaches its final act, and Gi-hun (Lee Jung-jae) is out for justice. Haunted by his past and driven by grief, he sets out to destroy the Game once and for all.

But the elusive Front Man (Lee Byung-hun) has other plans, and the psychological warfare only deepens. Directed by Hwang Dong-hyuk, this intense, emotional conclusion delivers shocks, heart and explosive tension as Squid Game cements its place in TV history with an unforgettable final chapter.

Princess Anne shines in a new hour-long documentary
Princess Anne shines in a new hour-long documentary(Image: Tim Merry/Staff Photographer)

Princess Anne: Royal Rule Breaker

Friday, 9pm, 5

She’s the monarchy’s steeliest operator and this 90-minute documentary finally gives her her due. Often overlooked but never outdone, Princess Anne has quietly become the Royal Family’s hardest grafter and boldest spirit.

From Olympic glory to diplomatic duty, this film traces her evolution from headstrong teen to pillar of the Crown. Featuring expert insight, archive footage and rare glimpses behind palace doors, it’s a tribute to a woman who plays by her own rules – and rarely puts a foot wrong.

Like this story? For more of the latest showbiz news and gossip, follow Mirror Celebs on TikTok, Snapchat, Instagram, Twitter, Facebook, YouTube and Threads.



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Verizon wins FCC approval for $9.6-billion Frontier acquisition

Verizon Communications Inc. won Federal Communications Commission approval for its $9.6-billion acquisition of Frontier Communications Parent Inc. after agreeing to agency demands to pare back diversity initiatives in line with President Donald Trump’s policies.

The deal “will unleash billions of dollars in new infrastructure builds in communities across the country — including rural America,” FCC Chairman Brendan Carr said in a statement Friday. “This investment will accelerate the transition away from old, copper line networks to modern, high-speed ones.”

The transaction values the Dallas-based company at $20 billion when including debt.

The approval marks one of the first deals to get the green light under Carr, who had threatened to block mergers unless companies rolled back what he called “invidious” diversity, equity and inclusion practices.

Carr sent a letter to Verizon in February warning the company that its DEI efforts run afoul of Trump administration directives. Carr told the New York-based telecom carrier to end its promotion of DEI in corporate values and training materials.

Trump has been pushing to root out such policies from the federal government, corporate America and beyond, issuing executive orders banning the practices and asking agency heads to identify targets, including listed companies, to investigate for “illegal DEI” efforts.

Verizon committed to ending some practices and has reaffirmed a commitment to equal opportunity and nondiscrimination, the FCC said in its statement. “This will ensure that the combined business will enact policies and practices consistent with the law and the public interest.”

The FCC approval paves the way for the biggest U.S. phone company to expand its high-speed internet business. It will allow Verizon to upgrade and expand Frontier’s existing network in 25 states, according to the FCC.

Telecommunications companies like Verizon have been bulking up on fiber-optic assets to add capacity for customers’ surging data use. The flow of data is expected to increase further as more companies adopt artificial intelligence.

The deal combines Frontier’s fiber network with Verizon’s portfolio of fiber and wireless assets, including its Fios offering. It also brings back some assets that Verizon sold to Frontier in 2015 for $10.54 billion.

Frontier filed for Chapter 11 bankruptcy in 2020 after years of losses in its wire-line telecom business led to ballooning debt. It emerged from bankruptcy the following year and focused on building out its fiber network to better compete against cable and wireless companies.

Over about the last four years, Frontier has invested $4.1 billion upgrading its network and replacing antiquated copper lines. Now, the company derives more than half of its revenue from fiber products.

Following the transaction, Verizon expects to deploy fiber to 1 million or more U.S. homes annually, according to the FCC statement.

Griffis writes for Bloomberg.

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