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Railsbank unveils new 'embedded finance' strategy

Digital banking services provider Railsbank is betting on ‘experiences’ being the gateway to a boom in brands embedding financial services.

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Railsbank/Nigel Verdon

Embedded finance is by no means the most hyped area of fintech at present but given its infancy - and bold claims from adherents - it still leaves many asking when the use cases will catch up with the bullish predictions for its potential market size.

Railsbank, which offers a number of B2B banking services to fintechs and non-financial brands, today has unveiled a refreshed strategy and brand to boost its bet on an embedded future for financial services.

The London-based company, founded in 2016 and operating throughout the UK and Europe, APAC and the US, is positioning itself to help non-financial brands with ‘experiences’.

Nigel Verdon, CEO and co-founder of 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.” 

This will help the next phase of growth for embedded finance, the company believes, 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.  

“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.”

Railsbank is currently working with brands including the McLaren Racing team, Paceline and Status Money to design and realise embedded finance experiences.

The company raised $70m in July 2021 in a round led by Anthos Capital and also included Central Capital, Cohen and Company and Outrun Ventures as well as a number of existing investors.

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Nigel Verdon

CEO and Co-founder


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