Piraeus Bank, in collaboration with Natech and its partner Neptune International, is preparing to launch a new digital-only bank, Snappi, in Greece. This venture is pending license approval from the Greek central bank.
Snappi aims to redefine banking in Greece and potentially across Europe by offering innovative services such as Banking-as-a-Service (BaaS), buy now, pay later options, and other consumer financial products, all delivered through a fully digital platform.
Digital-First Solutions
Snappi’s foundation leverages Natech’s advanced banking technology, acclaimed as a starting point for change. This includes a suite capable of handling multi-currency deposits, credit approvals, lending, customer management, trade finance, and complex accounting and financial reporting.
This technology suite, which has already been deployed successfully with the Greek unit of Turkey’s Ziraat Bank in 2020, underscores the potential for transformative banking experiences that Snappi wants to provide.
Partnerships and Expansion Plans
The creation of Snappi was first announced in 2022, marking a significant collaboration between Piraeus Bank and Natech. Thanasis Navrozoglou, president and CEO of Natech, commented on the venture’s broad ambitions:
Snappi is designed to address both consumers and financial institutions in Greece and Europe through a pure digital experience, offering new opportunities by augmenting their capabilities through our new BaaS proposition.
Neptune International, a Swiss-based private investment and advisory firm, wants to change the banking customer experience not just in Greece but across Europe, according to its founder and managing director, Harris Antoniou.
As Snappi gears up for its official launch, it is actively expanding its digital banking team, seeking top talent in areas such as accounting, data and IT engineering, and product ownership.
This recruitment drive is part of Snappi’s strategy to ensure that its services are supported by skilled professionals who can deliver on the promise of a superior digital banking experience.
