14 June, London. Railsbank, the open banking platform that connects together a global network of partner banks with companies who want to access global banking through one API, is officially one of the ‘hottest’ 50 FinTech companies in Europe
Railsbank is one of just 50 companies to be named in the coveted FinTech50 2017 list, published every year by FinTechCity.
The Fintech50 2017 list organisers said: “When we founded the 50 back in 2012, it was a guide to a then emerging landscape. Now, it's a guide to quality in a very crowded one”.
“This year's FinTech 50 companies can feel very VERY pleased with themselves. They were selected from over 1500 FinTechs across Europe by some of the biggest names in the sector, which is no small achievement”.
Co-founders of Railsbank Nigel Verdon and Clive Mitchell said: “This is a great achievement for the whole team at Railsbank and is testament to what we have achieved in 18 months. It also demonstrates that OpenBanking via an API is a reality and it says much for our future. We are very proud to be recognised as one of Europe’s top FinTech companies”.
Railsbank made their API available to developers last January. With just five lines of code, customers have access to a core digital ledger banking platform and a complete range of wholesale transaction banking services called ‘Product Rails.’ It also ensures regulatory compliance through Railsbank’s unique Compliance Firewall Technology.
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 with 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. Winners of the Simmons & Simmons FinTech Fund in 2016/17, Railsbank was the “Startup-in-Residence” for the 2016 Startupbootcamp FinTech 2016 Cohort.