FOR IMMEDIATE RELEASE
31st JANUARY 2018
Paris FinTech Forum
Railsbank, the UK-based open-banking and regtech platform, and Cornercard UK, the UK’s leading business to business card issuer, announced at Paris Fintech Forum today a strategic partnership.
Cornercard UK is to join the Railsbank platform through which it will issue Mastercard debit cards. Railsbank will become a debit card programme manager, allowing Railsbank customers to have their own branded debit cards that work with Railsbank bank accounts and International Bank Account Numbers (IBANs). Railsbank will support both traditional plastic and virtual debit cards.
Chris Adams, CEO of Cornercard UK, said: “Cornercard UK is delighted to be partnering with Railsbank to support its card issuing solutions to its customers via their market leading platform.
Meeting the fast paced and evolving needs of customers across the FinTech sector requires expert thought leadership and agile creativity and Railsbank co-founders Nigel Verdon and Clive Mitchell have achieved just that.”
CEO and co-founder of Railsbank, Nigel Verdon, said: “This is just one of the many partnerships we will be announcing this year. In support of our partnership with Cornercard UK, we will be releasing a rich set of debit card APIs that customers can use to issue and manage their debit cards.”
“Partnering with Railsbank provides a perfect strategic fit for Cornercard UK, adds Chris. The ethos that delivered the development of Railsbank’s “access global banking in five lines of code” approach, aligns directly with our own, which is to provide leading card issuing innovation as simply and efficiently as possible.”
Separately, Railsbank is currently a participant in the Mastercard Start Path program – the company’s effort to support later stage tech and fintech companies who are building the future of commerce. Mastercard will provide Railsbank the operational expertise and introductions needed to help the company scale.
For partners who wish to try out the innovative APIs, Railsbank have made available an early access programme to the Railsbank Card APIs called “Railsbank Labs.” To find out more go to www.railsbank.com
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Founded by serial entrepreneurs and FinTech veterans Nigel Verdon and Clive Mitchell, Railsbank is a global banking and compliance platform that gives companies access to wholesale banking services in 5 lines of code. Railsbank turbo-charges the scaling of businesses by massively reducing the time and complexity of opening bank accounts, streamlining technical integration with banks, enhancing banking functionality with core Railsbank services; and enabling both parties to have a trusted compliance relationship. Awarded the FinTech50 2017, winners of the Simmons & Simmons FinTech Fund in 2016 and Startup Pitch winners at Paris FinTech Forum 2017, Railsbank was also the “Startup-in-Residence” for the 2016 Startupbootcamp FinTech 2016 Cohort.
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About Cornèr Bank Ltd. / Cornèrcard
Founded in Lugano in 1952, Cornèr Bank is a private and independent Swiss banking institution. First in Switzerland to launch the Visa credit card in 1975, Cornèr Bank became a major player in shaping the Swiss credit and prepaid card industry through on-going innovation. In addition to Visa, Cornèr Bank integrated the MasterCard credit card in its portfolio in 1998. Cornèrcard has further expanded its presence in the payment card industry with the acquisition of the Diners Club license for Switzerland in 2014. Cornèrcard offers a wide range of credit and prepaid cards based on the latest technologies, and is now also among the pioneers in the Internet industry. Cornèr Bank was one of the first banking institutions in Europe to introduce Secure E-Commerce standards, and aims to continuously develop its services in the e-commerce and mobile-commerce sectors.
About MasterCard StartPath
Railsbank is a partner to MasterCard Start Path. MasterCard Start Path partners with startups from around the world to help scale their businesses. The program enables companies to gain access to Mastercard’s global ecosystem and to break new markets through relationships with Mastercard and their customers. https://www.startpath.com/global/