Railsbank partners with UK fintech startup Finadvant to offer digital banking to SMEs
Railsbank, the global Banking-as-a-Service (BaaS) platform, has partnered with UK based fintech, Finadvant, an SME banking platform which aims to make international payments more accessible to businesses.
Finadvant takes advantage of Railsbank's innovative BaaS platform to secure GBP and EUR ledger technology, offering the ability for their customers to receive, send and convert payments via SWIFT and UKFP.
Finadvant aims to deliver medium-sized trading companies a level and quality of banking service that high street banks would not typically deliver. This includes a personal attitude from a dedicated relationship manager who will always be just a phone call, or a chat-message away.
Finadvant believes it has identified the gap in the market and is providing an alternative banking experience, consolidating the best from the high street and digital banks. The existing system neglects the needs and realities of cross-border payments, especially for SMEs. Finadvant's challenge is to set a new standard of trading without borders across the global payments ecosystem.
Louisa Murray, COO UK and Europe, Railsbank: "Many SMEs struggle with their existing bank relationships when it comes to managing and understanding international payments. Finadvant has created a platform that sets a new standard and one which is set to have a promising future. We look forward to working with the team over the coming years."
Katya Dorofejeva, co-founder and CEO, Finadvant: "We are delighted to be able to work with Railsbank, as they were an obvious choice when we were looking for a long-term partner and a reliable solution to support all our core services and functions. Our business vision is to create a different banking experience tailored to the needs of international trade and beyond."
Railsbank is based in the UK (headquartered in London) and also has offices in Singapore, Australia, Lithuania, Germany, the Philippines, Malaysia, Vietnam, Sri Lanka and the US.