Fintech Pioneer Goes Beyond Fintech and Commits to a Future Where Any Brand or Business Running on Railsr Can Strategically Leverage Embedded Finance Experiences to Become the Future of Consumer Lending
Railsr launches rewards offer and announces partnerships with AWS and Salesfo
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LONDON, June 7, 2022 /PRNewswire/ — Leading integrated finance experiences platform, Railsbank, has rebranded to Railsr, and launched a rewards offering, meaning it’s ready to create and deliver the next evolution consumer financial experience.
Integrated finance experiences
Railsr is the world’s first turnkey platform that goes beyond fintech to enable any brand or business, for example in the field of sports, retail, travel and e-commerce, to use the integrated finance experiences as a strategic tool to improve customer relationships, revenue, rewards and relevance.
The Railsr platform has all the technology, product capabilities, operations and regulatory licenses needed to enable brands to create and integrate financial experiences, quickly and seamlessly, and at the right time, into their current customer journey, there where it has the most impact.
Railsr now has over 250 business-to-business (B2B) customers and 5.5 million accounts, with current customers including Foris, Paceline, Plum, Wirex and Wagestream – the very first customer signed in 2018. Among the strategic partners now include AWS, Salesforce, Visa, Mastercard and Plaid.
Since its inception in 2016, the company has raised over $100 million in equity financing and has the backing of leading investors, including Visa. Additionally, the company is now a global platform serving global and regional clients with offices in the UK (headquarters), Europein the APAC region and in the United States.
Now is the time to take the next step in the Railsr journey as critical market trends converge: accelerating digital transformation, increasing consumer demand for experiences, and ongoing evolution beyond banking as a service (BaaS) to deeper integrated finance experiences, a market estimated at approximately $800 billion in revenue globally.
Over the past six years, Railsr has purposefully built a platform, based on a set of integrated finance products, that enables any brand or business to make finance a phenomenal experience in their current customer journey. Along with banking, wallets, credit, cards and data, Railsr has now launched a rewards offering, which complements its suite of financial products – making it the first turnkey, single-vendor stack on the integrated finance experience market.
Co-founder and CEO Nigel Verdon said, “In our rapidly changing world characterized by extraordinary customer experiences, the finance industry has failed to evolve. We are “natives of experience” who advocate different thinking to create positive disruption. As the world’s leading integrated finance experiences platform, running on Railsr helps brands put customers at the heart of their business by making finance a critical engagement tool that drives revenue and deepens relationships. We’ve changed our name to Railsr, and we’re making finance a phenomenal experience. »
“The world has reached an inflection point. A period of radical digital transformation. Operating on Railsr helps our customers drive relationships, revenue, rewards and relevance to their customers. We’re here to support them at every step of their journey of the integrated finance experience, from prototyping to launching and ultimately expanding globally. »
Opportunity and market research
According to industry expert Simon Torrencethe value of the fast-growing integrated finance economy – insurance, lending and integrated payments – will reach $7.2 trillion in market capitalization in 2030, twice the current value of the top 30 banks and companies insurance in the world.
Recently, Railsr partnered with the World Retail Congress to release a report on the shopping behaviors and habits of four distinct consumer segments that emerged post-lockdown: Digital Newcomers, Adherents, Ethical Consumers and thrill seekers. According to this report, retailers must be ready to offer consumer experiences to these key groups. The report also found significant shifts in consumer attitudes, as evidenced by the fact that 73% of shopping search growth on Google in the UK came from new or rarely searched terms.
Research commissioned by Railsr found an increase in consumer demand for new, improved financial experiences and better rewards. The study found that 39% of consumers want access to financial services such as credit, loans or investments from brands they love and trust; this percentage rises to 51% among 18-24 year olds. Meanwhile, 41% would be interested in a credit card that offers early access to tickets, exclusive offers or other high-value rewards from their favorite luxury brand.
The company announced several strategic moves to support growth and build expertise in the retail and sports sector, including the appointment of former England rugby captain and current mentor of the England rugby team, Will CarlingOBE, and former Formula 1 board adviser, Jon Hall.
In our rapidly changing world characterized by extraordinary customer experiences, the finance industry has failed to evolve. We advocate a different way of thinking. As the world’s leading integrated finance experiences platform, we help brands put customers at the heart of their business by making finance an essential engagement tool that drives revenue and deepens relationships.
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Railsbank becomes Railsr and intends to appropriate the financial layer of the internet
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