Raiffeisen Bank International Accelerates Decision-Making with Faster, Data-Driven Contract Management
Raiffeisen Bank International (RBI) is a leading universal bank serving corporate and retail customers across 12 countries with over 43,000 employees. Operating in both EU and non-EU markets, RBI is a central institution of the Raiffeisen Banking Group Austria (RBG), driving financial services across Central and Eastern Europe.
Overview
Raiffeisen Bank International (RBI) is a universal bank serving corporate and retail customers across 12 countries. Operating in both EU and non-EU markets, RBI offers a wide range of corporate, retail, investment, and private banking services.
As a multinational organization with a diverse footprint across Central and Eastern Europe, RBI faced growing difficulty maintaining visibility and consistency in how contracts were managed across regions.
Challenge
The turn of the decade saw what the team called a “regulatory tsunami”—a wave of evolving requirements like GDPR, SRB, and DORA that demanded faster compliance and deeper control over contractual data. For RBI, this meant reporting 1.1 million data points to European Authorities – a nearly impossible feat considering RBI’s wide and low-visibility operational reach.
- Fragmented visibility across markets – Contract databases were decentralized across individual countries, making it difficult for the group to gain a consolidated view of active agreements.
- Complex regulatory compliance – The combination of GDPR, SRB, and DORA regulations across markets created immense pressure to centralize oversight and standardize reporting.
- Lack of centralized control – Without a unified repository, RBI struggled to track contracts, monitor expiry dates, and report accurately during audits or governance reviews.
To overcome these challenges, leadership decided to establish one central, contracting system to serve as the single source of truth.
Managing all those different new regulations like GDPR, SRB, DORA is a huge challenge. We call it a “regulatory tsunami.”
Solution
RBI sought a CLM platform that could unify decentralized systems, support multiple languages, and meet stringent regulatory and security standards. Sirion emerged as the CLM of choice, scoring highest on functionality, user experience, cost, and security. The future-ready platform with its AI-native CLM technology aligned perfectly with RBI’s modernization goals. Here’s what Sirion delivered:
- Established a central repository and outsourcing register that became the single source of truth for all contracts across the group.
- Enabled local language interfaces that drove rapid user adoption across diverse geographies.
- Provided standardized clause and template libraries that strengthened control over authoring and content creation.
- Integrated with over 20 enterprise systems in RBI’s application landscape, ensuring seamless connectivity across procurement and risk functions.
- Delivered a powerful reporting engine to surface insights instantly across business units.
“We as procurement feel confident that we now have the data to take the right decisions.”
Impact
Sirion’s implementation transformed RBI’s contract management operations, enabling the bank to act faster, stay compliant, and gain end-to-end visibility across all entities.
- Accelerated contracting cycles, improved transparency, and enhanced reporting across the enterprise.
- Gave procurement teams data-backed confidence, enabling faster, more informed decisions.
- Search and reporting times dropped from a month to just a few days, improving responsiveness and oversight.
- Enabled audit-ready access to contracts directly within the system, removing manual data transfers and improving traceability.
- Reduced incident response time to minutes allowing RBI to identified all affected third-party contracts within five minutes of a data breach.
Our head of security called about a third-party breach on a Friday evening. He needed an overview fast. I said, ‘Give me five minutes’—and it was five minutes.”
Additional Resources
Essentials of Contract Obligation Compliance Management
Contract Compliance Audit: Overview, Benefits, and Steps
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