Following this acquisition, the company will have the ability to embed credit and work capital into the payment flows of established neobanks, fintech platforms, and multinational brands. Arex Markets’ proprietary technology will be leveraged for enabling investors to finance a variety of commercial papers in order to speed up payments flows in a seamless and secure way, as well as to ease the working capital challenges.
In addition, Bankable will add working capital (such as lodged cards, revolving credit, flexible invoice financing, or corporate credit cards) to the existing API-fist digital platform. Clients will be given the ability to build cards, credit solutions, and payments with the Bankable virtual account core in a fast manner. Through this partnership, Bankable will also provide unlimited working capital matched with an extensive portfolio of relevant collaborators and clients.
Early use cases are rolled out in the B2B wholesale travel sector for working capital support on supplier payments, enhancing services for pan-European scale-up fintechs and neobanks in order for them to accelerate the process of building new net revenues from credit cards. Furthermore, the company can also work with global customer brands for establishing a single payments solution that was designed to meet their needs and preferences.
Bankable represents a global digital core banking platform and a Banking-as-a-Service provider, offering its clients and customers multiple solutions and tools. The company’s proprietary platform is currently PCI-DSS certified and it aims to meet the needs, preferences, and demands of its users while making sure the security of its tools measures up to the industry’s requirements.
Bankable’s digital banking platform offers the possibility for users to launch a digital bank. By leveraging its technology, customers can generate accounts with an IBAN, issue payment cards that are linked to the account, as well as access payment schemes including Faster Payments, SWIFT Payments, and SEPA Payments. Companies and firms have the possibility to leverage the integrated access to KYC and AML solutions and to plug into third-party API’s in order to enable access to additional financial products.
Included in the platform are real-time payments between accounts, debit and prepaid cards linked to the account that can be used to enable global payments, unique IBANs for each account for receiving third-party payments, single and multi-currency accounts, loading channels included in bank transfers, other debit and credit cards, cash at branches and partner stores, as well as spend channels, which include debit and prepaid cards, cash, bank transfers, and vouchers.
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