Singapore-based Arival partners with Railsbank

Tuesday 12 October 2021 12:03 CET | News

Fintech Arival Bank has partnered with Railsbank to offer customers the option to make local payments in the city-state, according to Tech in Asia.

The partnership will help Arival expand into the Asia-Pacific region, with Singapore considered as a highly strategic market. It will also allow startups to scale in different markets through different currencies and payment rails. Arival was founded in 2017 as an internal venture spun out VC firm Life.Sreda. The company was a contender for a digital banking licence in Singapore. Arival focuses on serving higher-risk customers who usually get turned down by more traditional banks.

Meanwhile, Railsbank builds application processing interface (API) for banking, payment cards, and credit products for businesses including fintech firms. Earlier in 2021, the company announced its launch in Australia through a tie-up with local neobank Volt.

Arival said it may expand its deal with Railsbank by pushing its services further into Europe and Latin America. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Railsbank, fintech, API, digital banking
Categories: Banking & Fintech
Countries: Singapore
This article is part of category

Banking & Fintech