Appian ‘enabling’ Russia’ regime through Raiffeisen, says The Captain’s Log

Appian (APPN) calls itself a “low code” application development solution with major F500 companies and many U.S. federal government agencies among its customers, but a new report from Lauren Balik of The Captain’s Log says that it appears a significant portion of Appian’s revenue and operations in Europe come from Austrian bank Raiffeisen Bank, which has come under fire in Europe for being the only Western bank operating in Russia and for failing to implement anti-money laundering standards. Balik says Appian’s is a Strong Sell, and that its financial reporting has become “significantly more vague” since Russia’s invasion of Ukraine in 2022.