The London-based fintech will offer its full range of services including the “first-of-its-kind" Credit Card as a Service.
Open banking platform Railsbank has officially launched in the US after the fintech secured its first American customer, Unifimoney.
The partnership between Railsbank and Unifimoney, will see the London-based fintech launch a “first-of-its-kind" Credit Card as a Service (CCaaS).
Nigel Verdon, co-founder and CEO of Railsbank, said: “The high costs and complexity of launching credit card propositions have stifled innovation by creating barriers to entry to all but the largest of traditional financial companies.”
“Fintech has changed the face of much of the banking industry, but, to date, the credit card market has been immune from this disruption. Railsbank will be able to drive change in the market with its CCaaS offering.”
Raislbank has also appointed Dov Marmor, who has over 15 year experience in the industry, as chief operating officer of North America.
Marmor, the new COO of Railsbank North America, added: “Railsbank is a true global leader in Banking as a Service. I look forward to playing an instrumental role in enabling innovation through the industry-first CCaaS proposition in the US.”
Unifimoney, which specifically targets high-earning professionals, will launch its Railsbank-powered credit card later on this year.