AsiaNet 88464

SINGAPORE, Mar. 19, 2021 /PRNewswire=KYODO JBN/ --

Railsbank plans to develop embedded finance market opportunity in Australia

Railsbank(https://www.railsbank.com/), a leading global Banking as a Service

(BaaS)  platform, has launched in Australia via a partnership with the

country's first neobank, Volt(https://www.voltbank.com.au/).

The partnership enables Railsbank to continue its expansion within the APAC

region and it considers Australia a highly strategic market.

Volt will be the first and only bank selected to launch Railsbank's embedded

finance offering in Australia.

The embedded finance market in Australia is in its infancy, but both Railsbank

and Volt believe it is set for rapid growth over the coming years.

Volt will also engage with Railsbank's global network of partners and

customers, and enable a broader BaaS solution in Australia that will enable

companies to prototype, launch and scale financial products within their own

customer experience.

Justin Xiao, COO of Railsbank, Asia-Pacific, said: "Australia is strategically

important for Railsbank and it's a real privilege for us to be partnering with

Volt in this next phase of our growth. The strength of the Volt brand, balance

sheet, and compliance offering makes it the ideal partner to help us launch

into the local market and tap the growth opportunity in embedded finance.

"Australia's fintech scene is thriving and Railsbank has a lot to offer in

terms of bringing innovative solutions and best practices to customers.

Collaborating with Volt gives us access to local knowledge and capabilities to

help us succeed. This is a significant partnership for Railsbank as we continue

our expansion in the Asia-Pacific region."

Volt founder and CEO, Steve Weston, said: "We are proud to be the first and

only bank selected to launch Railsbank's embedded finance offering in Australia.

"Railsbank has a proven track record of servicing millions of customers through

partnerships with banks like Volt in global markets. This partnership

demonstrates how our prudent and measured approach to market entry, built on

the sturdy foundation of our unique BaaS platform and partnership strategy,

could help to make Volt a long-term contender for a share of Australia's highly

lucrative banking sector."

Railsbank is headquartered in the UK and has offices in Singapore, the

Philippines, Malaysia, Vietnam, Sri Lanka, the US, Germany, and Lithuania.

It has relationships with numerous banks and financial institutions across

Europe, the US, and Asia-Pacific and will continue its expansion across Asia

with a view to deepening its footprint in Japan, the Philippines, Thailand and

Vietnam later this year.

In November last year, Railsbank raised US$37 million as part of continued

equity funding to support its global growth and product expansion. Significant

investors include Visa.

For more information, please refer to this

https://docs.google.com/document/d/1p9I2ai3cy9s9TuZAa-pFdcmG-zk94INUpgsAQkaS8yk/edit

for the following:

-Railsbank's(https://www.railsbank.com/) boilerplate

-Volt's(https://www.voltbank.com.au/) boilerplate

-Notes to Editors

-Media Pack  

-Media Contacts

SOURCE:  Railsbank