Railsbank and Plaid partner to enable companies to embed finance into their customer journey

Thursday 6 May 2021 10:08 CET | News

Railsbank, a Banking-as-a-Service platform, and Plaid, an Open Finance platform, and financial data network, have partnered to enable companies and brands in the UK to embed finance into their customer journey.

An objective of the partnership is to satisfy the demand from companies and brands, both within and outside the financial services industry, who are adding end-user wallets, payments, savings, credit and bank accounts to their platforms and wish to improve the process.

Railsbank and Plaid will enable customers to offer payment initiation to consumers and SMEs, which allows customers to collect money directly from their bank account.

The two companies will also build new functionalities that provide mutual customers with products and features to leverage the spectrum of Open Banking and Embedded Finance benefits. 

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Keywords: Open Finance, partnership, BaaS, Plaid , data, financial services, SMEs, payment initiation, Open Banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech