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Banking as a Service (BaaS) platform provider, Railsbank, has announced the availability of its API to developers. Arkéa Banking Services, a subsidiary of Credit Mutuel Arkéa, has signed up to be first on the platform to deliver SEPA payment services and IBANs across Europe.

Through the API, customers have access to a core digital ledger banking platform and a 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,” says 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”.

Christophe Bitner, President of the Executive Board of Arkéa Banking Services, comments: “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 solution. The cooperation between Arkéa Banking Services and Railsbank is fully in accordance with the B2B development strategy of the Group Crédit Mutuel Arkéa in Europe.

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by Scott Thompson
Scott is Senior Editor at IBS Intelligence. You can follow him on Twitter and contact him at: Scott.Thompson@ibsintelligence.com
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