Bankable, a UK-based banking as a service platform, announced on Tuesday it has formed a new partnership with credit card giant Visa to accelerate digital banking solutions. Founded in 2010, Bankable describes itself as a global architect of innovative payment solutions providing Banking as a Service. The company’s core virtual account management is available in white-label or through APIs enabling anyone to deploy payment solutions, which includes virtual account services, e-ledgers, virtual and plastic card programs, and e-wallet and light banking solutions.
“Our key competitive advantage lies in our technology, where our virtual account management platform is core to the broader payment services that we enable. We provide a full turnkey solution depending on your business needs, via a single multi-channel platform. We are connected globally to multiple sponsor banks, processors, card manufacturers and other suppliers in the payments ecosystem, and also provide program management services – enabling us to deliver an end-to-end solution for corporate and consumer payment programs.”
According to Bankable, the partnership will allow Visa members to obtain access to the Bankable platform to help them deploy digital banking and real-time payment services. Speaking about the collaboration, Eric Mouilleron, CEO and Founder of Bankable, stated:
“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.”
Bill Gajda, Global Head of Strategic Partnerships and Innovation at Visa, added:
“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. 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.”