Yimba, a FAST (Fintech As a Service Technology) company, and Railsbank, the global Banking-as-a-Service (BaaS) platform, are teaming up to offer clients with products and services that will improve their digital wallet experience with “the likes of Apple Pay, Samsung Pay, and Google Pay.”
As noted in a release:
“Under a new strategic partnership between the two companies, all customers of Railsbank can benefit from Yimba’s … digital wallet marketing platform.”
Established in 2019, Yimba had created a software platform that supports the accelerated adoption of contactless payments in order to improve the customer experience. It’s supported by CRM and marketing capabilities that are “uniquely delivered via a cloud-based system and integrated directly across the proprietary payment networks,” the announcement revealed.
As mentioned in the update, for Yimba, the partnership will offer “complimentary” services to the growing number of products currently offered by Railsbank and also “rapidly expand partners utilizing its services.”
Yimba CEO Robert Dowd stated:
“The Yimba proposition has really struck a chord with our customers. We are working with multiple organisations and have support from the networks and wallets across the global marketplace. Moving forward, we aim to expand our portfolio of partners and also offer consumers a broader array of additional products and services. The partnership with Railsbank will greatly facilitate this growth.”
Louisa Murray, Railsbank COO UK and Europe, remarked:
“We are delighted to be a partner of the Yimba team who, like us, are pioneers in the financial services arena. We have worked closely with them on this latest innovation and believe it will be welcomed by all financial sectors, including networks and digital wallet providers who will quickly see the potential of this new and compelling digital wallet-based marketing platform.”
Railsbank said it appointed John Hammond, previously CCO at Currencycloud as its new CCO to drive the platform’s international expansion. Hammond will join his former colleagues Nigel Verdon (CEO), Nick Bourner (CTO) and Dov Marmor (COO, North America) as Railsbank moves forward from 12 months of expanding its footprint.
Railsbank has also acquired certain assets, customers, and people from Wirecard’s UK business before raising $37 million in funding in November to help drive growth. Recently, Railsbank launched in Australia in partnership with local digital bank Volt.