Railsbank Debuts Open Banking and Compliance Platform

Railsbank Debuts Open Banking and Compliance Platform and Announces Arkéa Banking Services as First Partner.

Platform gives access to global banking with 5 lines of code allowing companies to significantly reduce time to scale and revenue business internationally

January 25th, Paris. Railsbank, provider of an  open banking and compliance platform that will give companies access to global wholesale banking services with 5 lines of code, today announced at Paris FinTech Forum the availability of their API to developers. Through this API, customers have access to a core digital ledger banking platform and a complete range of wholesale financial services, called ‘Product Rails’, while ensuring regulatory compliance through Railsbank’s Compliance Firewall Technology.

“We are able to deliver measurable benefits and value to companies who want to scale and revenue their business in a quick and hassle-free way”, said Nigel Verdon, Co-Founder & CEO, Railsbank. “Our platform massively reduces the time, cost and complexity of connecting to and managing, multiple financial service providers and their legacy technologies as well as enabling both parties to have a trusted compliance relationship”.

The ‘Product Rails’, for example, IBAN creation, issuing cards, sending, receiving and converting money,  and accessing credit, are provided by financial service partners.

Arkéa Banking Services, a subsidiary of Credit Mutuel Arkéa, is one such service partner and has signed up to be first on the platform to deliver SEPA payment services and IBANs across Europe.

Christophe Bitner, president of the Executive Board of Arkéa Banking Services commented: “We are delighted by this partnership with Railsbank. As a pioneer in white-label banking services, we are thrilled to onboard new FinTech companies via the Railsbank solutionThe cooperation between Arkéa Banking Services and Railsbank is fully in accordance with the B2B development strategy of the Group Crédit Mutuel Arkéa in Europe.

Verdon noted, “Today we are announcing availability and support for European transactions with global coverage to follow in 2018. We’ve been inundated with requests to try our platform and we’ll be giving access to selected companies in the upcoming weeks, so I’d encourage you to register as soon as possible”.

Railsbank are inviting those interested in having early access to the API to register via the website at www.railsbank.com

Meet the Railsbank team at Paris FinTech Forum, January 25th & 26th. Nigel is both panelist and presenter on the conference agenda.

About Railsbank
Founded by serial entrepreneurs and FinTech veterans Nigel Verdon and Clive Mitchell, Railsbank is a global banking and compliance platform that gives companies access to wholesale banking services in 5 lines of code.  Railsbank turbo-charges the scaling of businesses by massively reducing the time and complexity of opening bank accounts, streamlining technical integration with banks, enhancing banking functionality with core Railsbank services; and enabling both parties to have a trusted compliance relationship. Winners of the Simmons & Simmons FinTech Fund in 2016/17, Railsbank was the “Startup-in-Residence” for the 2016 Startupbootcamp FinTech 2016 Cohort.

Kindest Regards

Nigel Verdon (CEO) & Clive Mitchell (COO)
Co-founders of Railsbank

Media Contact
Deborah Ives
+44 7450 895688
debs@railsbank.com

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