Bankable, the global provider of “Banking as a Service” solutions, announced Tuesday (April 30) that it inked a partnership with Visa to enable financial firms and banks to access real-time modular banking services.
In a press release, Bankable also said Visa made an undisclosed financial investment in the company. Under the partnership, Visa members will be able to access Bankable’s platform so they can launch digital banking and real-time payment services. Bankable said in the press release enabling companies to use its platform within existing operations can facilitate a short time to market. Bankable’s platform doesn’t interfere with established systems. According to the company, a recurring challenge for banks, corporations, and FinTechs is access to digital tools and technology that enables them to rapidly deploy. Bankable said its platform has a flexible model which enables companies to operate digital banking services without any disruptions.
“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,” said Eric Mouilleron, CEO and founder of Bankable, in the press release. “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 U.S. FinTech clients expand.”
In the same press release Bill Gajda, global head of strategic partnerships and innovation at Visa, said the deal with Bankable is another example of strategic partnerships Visa has been making to enable companies to deliver faster and better experiences to their customers. “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,” said the executive.