Railsbank Expands its Presence in Australia with Volt as Local Banking Partner

Railsbank, a London-based Banking-as-a-Service (BaaS) platform, announced that it has entered the Australian market via a partnership with Volt, the country’s challenger bank.

According to the official release, the new partnership is expected to boost its reach within the APAC region. Both Railsbank and Volt consider Australia as a highly strategic market, which will enjoy a huge growth over the coming years.

In addition, 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.

Nigel Verdon, co-founder and CEO of Railsbank, commented, “It’s very exciting to see that Australia’s fintech scene is thriving. We are ready to support all Australian business that want to innovate and capitalise on the expected exponential growth of embedded finance.

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 global expansion and strengthen our foothold in Asia Pacific.”

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.”