Railsbank on the Megatrends from Money 20/20
Nigel Verdon, CEO, and co-founder of Railsbank, speaks about some of the hottest topics from Money 20/20 including APIs and banking-as-a-service, embedded financial products, and the drivers fueling these megatrends.
Money20/20 Amsterdam – Highlights
Money20/20 Amsterdam – 3-5 June 2019
Money 20/20 Europe builds momentum
As Money20/20 Europe begins in Amsterdam, Pat Patel, Content Director, Money20/20 Europe & Asia, introduces the event and talks about what attendees can gain from the conference and what will be the hot topics discussed this year.
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[VIDEO] Money20/20 Europe: Interview with Nigel Verdon, Railsbank`s Co-Founder and CEO
This year at Money 20/20 Europe, The Paypers Lead Editor Oana Ifrim talked to Nigel Verdon, Co-Founder and CEO at Railsbank, about Banking-as-a-Service, innovation and expansion strategies, and key areas for growth in future for Railsbank.
Questions addressed in the interview:
-Nigel, you used your expertise in many important roles with Evolution, CurrencyCloud, and Railsbank, in addition to many others. What are your top criteria when picking the right project and role?
-The Asia Pacific region has long been a focus for Railsbank. Last year Visa has agreed to a five-year partnership with Railsbank to help push its Banking-as-a-Service offering in the Philippines, Malaysia, Vietnam, Sri Lanka Singapore, and Thailand. Railsbank has also become a Visa principal issuing member. What makes APAC a go-to, forward-looking market? What can you tell us about the growth in fintechs in these economies and what are some of the local and regional trends transforming banking?
-Following the Philippines, Malaysia, Vietnam, Sri Lanka, and Singapore, Railsbank also announced a market launch in Australia earlier this year, with local challenger bank Volt as its first client. What can you tell us about the reasoning behind this move? And what’s your special strategy when picking the right business partners?
-What are the ingredients in building a local model to scale? What are the top challenges of international expansion?
-In July 2021 Railsbank has raised USD 70 million in new equity funding. Which are the main targets you are aiming towards with this investment?
-We see lots of challengers, neobanks, crypto players, PaaS providers emerging. On the other hand, some market needs/verticals are ignored/underserved. Could you please mention some underserved verticals in finance/banking that are in high need of innovation/push?
-Cross-border payments remain slow, expensive and opaque. What technologies, infrastructures, developments could potentially contribute to the development of cross-border payments that are faster, cheaper, and more inclusive than present arrangements? What are some existing initiatives that seek to address the existing challenges in the cross-border payment system?
What is foreseen for Railsbanks’s evolution over the next couple of years? What developments are in store? What are the key areas for growth in future for Railsbank?
Video: Railsr at Money 20/20
FinTech Futures chats with Nigel Verdon, CEO and Co-founder at Railsr (formerly Railsbank) at Money 20/20 Europe