Railsbank launches in the US with Credit Card-as-a-Service solution

Railsbank has launched operations in the US, appointing Dov Marmor as chief operating officer for North America.

It will offer the complete platform, including Banking-as-a-Service (BaaS) and Credit Cards-as-a-Service (CCaaS) to FinTechs across the pond.

Co-founder and chief executive Nigel Verdon said: “The high costs and complexity of launching credit card propositions have stifled innovation by creating barriers to entry to all but the largest of traditional financial companies.

"FinTech has changed the face of much of the banking industry, but, to date, the credit card market has been immune from this disruption - Railsbank will be able to drive change in the market with its CCaaS offering.”

Unifimoney, the first full-service neobank for high-earning professionals, has become Railsbank’s first CCaaS customer. The Unifimoney credit card will be launched in the fourth quarter as an integrated part of its single mobile account.

New North American chief operations officer Marmor moves from BaaS platform Green Dot Corporation, and will be based in Railsbank’s new US hub in Santa Monica.

Railsbank also has offices in the UK, Singapore, Lithuania, the Philippines, Vietnam and Sri Lanka.

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