Koutentakis (Piraeus Bank): Greece is making great strides in embedded finance

Piraeus Bank’s plans to heighten end-to-end lawsuit work and present contiguous responses to mundane lawsuit needs were outlined by Vassilis Koutentakis, Senior General Manager, Chief Retail Banking and Board Member of Piraeus Group, speaking astatine the Delphi Economic Forum XI.

He noted that banks request to prosecute caller partnerships, processing platforms and ecosystems successful which they efficaciously run arsenic a “silent partner,” enabling customers to entree products seamlessly without the slope being visibly present.

Speaking to Naftemporiki TV, Koutentakis emphasized that “today’s treatment focused chiefly connected embedded finance, alongside its backing by a slope that remains invisible astatine the constituent of interaction. A cardinal contented is the governance of these transactions. Customers want to get a merchandise effortlessly, but financing is often involved. At that point, recognition needs to beryllium extended without disrupting the lawsuit experience, allowing them to implicit the acquisition instantly.”

He added that “this entails a process of shared hazard among the platform, the merchant offering the product, and the slope providing the financing. In this area, Greece is making important strides and is approaching a level of maturity that already exists successful the remainder of Europe.”