Railsbank becomes Railsr as it sets its sights on owning the financial layer of the Internet. Source: prnewswire.com
World-leading embedded finance experiences platform, Railsbank, has changed its name to Railsr, and launched a rewards offering, signifying that it is ready to create and deliver the next evolution in the consumer financial experience.
Embedded Finance Experiences
Railsr is the first global turnkey platform that goes beyond fintech to enable any brand or company, for example, sports, retail, travel and ecommerce, to use embedded finance experiences as a strategic tool for customer relationships, relevance and revenue.
The Railsr platform has all the technology, product capabilities, operations and regulatory licences to empower brands to create and embed financial experiences, swiftly and seamlessly, and at the appropriate time, in their existing customer journey, wherever it is the most impactful.
Railsr now has more than 250 business-to-business (B2B) customers and 5.5 million accounts, with current customers including the likes of Foris, Paceline, Plum, Wirex and Wagestream – the very first customer signed in 2018. Strategic Partners now include AWS, Salesforce, Visa, Mastercard and Plaid.
Since its formation in 2016, the company has raised over $100m in equity financing and has the backing of leading investors, including Visa. Additionally, the company is now a global platform servicing global and regional customers, with offices in the UK (HQ), Europe, APAC and the US.
Delivering positive disruption
Now is the right time for the next stage in the Railsr journey as critical market trends converge: accelerating digital transformation, growing consumer demand for experiences and the ongoing evolution beyond Banking-as-a-Service (BaaS) to deeper embedded finance experiences, a market estimated to be worth around $800bn of revenue globally.
Over the last six years, Railsr has purposefully built a platform, based on an integrated financial product set, that enables any brand or company to make finance a phenomenal experience within their existing customer journey. In addition to banking, wallets, credit, cards and data, Railsr has now launched a rewards offering, which completes its financial product set – making it the first, single, turnkey vendor stack in the embedded finance experiences market.
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