Railsbank, the UK-based open-banking and regtech platform, and Cornercard UK, the UK’s leading business to business card issuer, announced at Paris Fintech Forum today a strategic partnership.
Cornercard UK is to join the Railsbank platform through which it will issue Mastercard debit cards. Railsbank will become a debit card programme manager, allowing Railsbank customers to have their own branded debit cards that work with Railsbank bank accounts and International Bank Account Numbers (IBANs). Railsbank will support both traditional plastic and virtual debit cards.
Chris Adams, CEO of Cornercard UK, said: “Cornercard UK is delighted to be partnering with Railsbank to support its card issuing solutions to its customers via their market leading platform.
Meeting the fast paced and evolving needs of customers across the FinTech sector requires expert thought leadership and agile creativity and Railsbank co-founders Nigel Verdon and Clive Mitchell have achieved just that.”
CEO and co-founder of Railsbank, Nigel Verdon, said: “This is just one of the many partnerships we will be announcing this year. In support of our partnership with Cornercard UK, we will be releasing a rich set of debit card APIs that customers can use to issue and manage their debit cards.”
“Partnering with Railsbank provides a perfect strategic fit for Cornercard UK, adds Chris. The ethos that delivered the development of Railsbank’s “access global banking in five lines of code” approach, aligns directly with our own, which is to provide leading card issuing innovation as simply and efficiently as possible.”
Separately, Railsbank is currently a participant in the Mastercard Start Path program - the company’s effort to support later stage tech and fintech companies who are building the future of commerce. Mastercard will provide Railsbank the operational expertise and introductions needed to help the company scale.
For partners who wish to try out the innovative APIs, Railsbank have made available an early access programme to the Railsbank Card APIs called “Railsbank Labs.”