Railsbank launches new category: Embedded Finance Experiences

By Joy Dumasia

Railsbank, the leading global Embedded Finance platform, has launched a new industry category to drive the next wave of innovation within financial services. Known as Embedded Finance Experiences, the new category and vision represent the next phase of growth for embedded finance, moving away from basic banking, card or financial products to deeper and richer financial experiences that are seamlessly part of a brand’s customer journey.

Research commissioned by Railsbank has uncovered growing demand for new and improved financial experiences and better rewards from consumers. It found that 39% of consumers are interested in accessing financial services like credit, loans or investments from brands they love and trust, rising to 51% of 18-24 year olds. At the same time, 41% would be interested in a credit card that offered early access to tickets, exclusive offers, or other high-value rewards from their favourite high-street brand. 

Railsbank is launching a global embedded finance platform and a new identity; its first significant brand update since it was formed in 2016. It has grown to employ over 450 people across the UK and Europe, APAC and the US, and is approaching unicorn status in five years. Railsbank is already working with brands including the McLaren Racing team, Paceline and Status Money to design and realise embedded finance experiences.

Nigel Verdon, CEO and Co-Founder, Railsbank, said: “People don’t buy a car loan; they buy a car. Consumer brands understand what banks and fintech never could: finance is not about the product; it is part of an experience. Pioneers like Uber have already started to embed finance into their customer journey by removing the hassle of paying to complete your journey and get out of the taxi. Your financial transaction is so deeply embedded, you hardly notice it. The opportunity here is vast and hugely untapped. What if your football team’s app not only enabled you to buy tickets or merchandise but also away day hotel and travel deals, together with exclusive services such as car hire and insurance? Instead of thinking in terms of delivering banking or cards, Railsbank is empowering brands to build next-level financial experiences they always imagined at a pace previously unimaginable. Embedded Finance Experiences are the future of finance.”