UK-based Railsbank, an Open Banking and Regtech answer supplier, revealed on June 29, 2020, that it has gained Hong Kong Fintech Statrys as a brand new consumer.
Statrys presents digital enterprise accounts, superior cost choices, and foreign exchange options for SMEs based mostly in Asia. It offers handy digital banking companies which don’t require that customers go to bodily department places.
Statrys’s administration says that the Fintech agency is targeted on serving new enterprise house owners, startups and likewise extra established SMEs. Many of those companies haven’t been in a position to entry the perfect monetary companies, due to challenges related to working with conventional banking establishments.
Bertrand Théaud, founder and director at Statrys, remarked:
“Working in partnership with Railsbank to offer local currency accounts is an important value add to our clients. It is clearly a major achievement in our effort to provide Asian SMEs with more effective payment solutions for their international business.”
Railsbank confirmed that it’s increasing its operations throughout Asia. The Regtech agency’s regional hub relies in Singapore. Headquartered in London, Railsbank additionally maintains places of work in Lithuania, the Philippines, Vietnam and Sri Lanka.
The corporate just lately acquired strategic investments from funds large Visa and International Mind, a significant VC agency based mostly in Tokyo, Japan.
Railsbank additionally introduced a partnership with Visa to supply Banking as a Service (BaaS) choices in Singapore, Thailand, Vietnam, and the Philippines. The Fintech agency additionally just lately turned a Visa issuing member in Singapore.
After changing into a Visa member and by becoming a member of the cost agency’s Fintech Quick Observe Program, Railsbank will be capable of entry Visa’s massive associate community. This could make it simpler for the Regtech agency’s purchasers to launch Visa-based merchandise.
Nigel Verdon, co-founder and CEO of Railsbank, said:
“Financial inclusion is just as important for SMEs as it is for individuals, and this marries with the Railsbank fundamental belief that everyone should have access to banking services. We look forward to working with Bertrand and his team over the coming years.”
King Leung, head of Fintech of Make investments Hong Kong, remarked:
“Fintech has become an important growth engine for Hong Kong and the rest of APAC. A silver lining from the pandemic is the acceleration of digitization and Fintech adoption in Hong Kong. Also, the resilience and relatively quick resumption of business activities in Hong Kong is a timely reminder about the solid foundation as a global financial centre built by generations of professionals in Hong Kong.”
“As a proven Fintech launchpad, Hong Kong hopes to connect APAC’s Fintech businesses with the post-COVID opportunities in Greater China, ASEAN and the rest of the world.”