Railsbank to Launch Its Houston Platform and OpenRailz API for Financial Services Provider

Railsbank, a London-based Banking-as-a-Service (BaaS) platform, said on Monday that it would announce the launch of two revolutionary new products, the Houston platform and OpenRailz API, at this week's Singapore FinTech Festival. 

The company has spent four years in preparing for launching the Houston platform and OpenRailz API. It has deconstructed financial products into core digital components to enable its customers, regardless of sector, to reconstruct and embed financial services into their businesses and customer journeys.  

The OpenRailz API will allow any financial services provider to plug their products securely and compliantly into the Railsbank platform and it will be available within Houston for customers to rapidly build financial apps and embedded experiences. 

Railsbank's co-founder and CEO Nigel Verdon will join a panel of industry experts to discuss 'Digital and Cultural Transformation in a Co-Covid World', and will reveal further details about the upcoming innovations. The Houston platform takes inspiration from the no-code movement and will further the democratisation agenda, providing the company's customers with the tools to scale their financial product proposition quickly and efficiently. 

Verdon said: "The Houston and OpenRailz API continue the innovation journey which Clive and I set out on, by releasing APIs that we previously only used internally to enable third parties to hook on to the Railsbank platform."

The Houston platform and the OpenRailz API also caps off a landmark year for Railsbank. Last month, the company announced it had raised USD37million in growth funding to continue its momentum following the signing of two partnerships with Visa and an investment from the payments giant, as well as the acquisition of Wirecard in the UK.