Visa invests in Bankable

Source: Bankable

Bankable, the global provider of “Banking as a Service” solutions, today announced a strategic partnership with Visa (NYSE: V) to enable financial institutions and banks to access real-time and modular banking solutions worldwide.

Visa has also made a financial investment in Bankable.

The partnership will allow Visa members to obtain access to Bankable’s platform to help them deploy digital banking and real-time payment services. The ability to use the platform alongside existing IT and operational landscape facilitates a short time to market. With its extensive integrated partners’ ecosystem, Bankable can support and seamlessly orchestrate global payment services, leveraging VisaNet to extend its existing international payment and banking solutions.

Bankable enables innovation without disruption as its platform does not interfere with established systems and allows clients to replicate and orchestrate their processes and operating requirements. A recurring challenge for banks, corporate entities and FinTechs is access to digital solutions, and technology that provides flexibility for them to rapidly iterate. Bankable’s platform addresses these challenges with its flexible model, allowing organizations of all sizes to operate digital banking services with no disruption to their systems and processes.

Eric Mouilleron, CEO and Founder of Bankable, said: “Bankable is proud to join the Visa global family. We are already at work with Visa’s existing partners. Visa’s support of Bankable’s vision, team and technology means a lot to us. We also found a strong cultural alignment with Visa in terms of business approach, speed and appetite to partner with clients to deliver the banking of the future. In addition to Europe, we will open three markets in the next 12 months (North America, Latam, MENA) to leverage relevant opportunities globally and help our European and US Fintech clients expand.”

“Visa’s investment in Bankable is another example of the strategic partnerships we are making in companies to help clients deliver improved customers experiences faster and easier than ever, “said Bill Gajda, global head, strategic partnerships and innovation, Visa. “The ecosystem is growing and innovating at the speed of light, and the Banking-as-a-Service model enables financial institutions and fintechs to be more agile in this ever-changing market. Our strategic partnership with Bankable will support our clients as they continue to adapt to an evolving landscape."

Zelig Associates advised Bankable on the transaction.
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