Arkéa Banking Services first to partner with fintech start-up Railsbank
Fintech start-up Railsbank has signed its first partner, Arkéa Banking Services (Credit Mutuel Arkéa’s subsidiary), to use its platform to deliver SEPA payment services and IBANs across Europe.
Railsbank co-founder Nigel Verdon says support for transactions worldwide will be available in 2018.
The company says its open banking and compliance platform “gives access to global banking with five lines of code allowing companies to significantly reduce time to scale and revenue business internationally”.
The fintech firm has also announced the availability of its 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,” the company has stated at today’s Paris FinTech Forum.
Financial service partners provide IBAN creation, issuing cards, sending, receiving and converting money, and accessing credit, to Product Rails.
Railsbank was the “start-up in residence” for the Startupbootcamp FinTech 2016 Cohort.