Bankable and Paysafe support British Red Cross to offer Visa prepaid cards in emergencies

The British Red Cross has transformed its approach to cash assistance in the event of emergencies following a new partnership with banking-as-a-service provider Bankable and specialised payments platform Paysafe.

Cash assistance is the means by which British Red Cross delivers financial aid during emergencies to make sure that recipients are able to access the goods and services they really need.

Emergencies – whether localised such as a house fire, or national or international such as a health pandemic – can have a large economic impact on communities. If homes are damaged and people aren’t able to work, communities that may already be in vulnerable situations are under increasing financial strain to make ends meet and the British Red Cross is there to help. The charity is now able to give families and individuals in need access to prepaid Visa cards via on-the-ground support workers, instead of relying on cash.

Following the COVID-19 outbreak, some media reports suggesting that cash may aid the spread of the disease have resulted in a shift in its usage and some retailers no longer accepting it as a form of payment, despite scientific evidence to the contrary. According to Paysafe research undertaken in April 2020, 53% of Brits are worried about handling cash following the COVID-19 outbreak, with 51% saying they planned to reduce their long term use of cash due to health and safety concerns.

The British Red Cross’ new Bankable-branded prepaid Visa cards are issued by Paysafe and can be used by recipients at any point of sale or ATM, that accepts Visa. The cards are pre-loaded with an amount defined by the charity and have a unique identification number.

The British Red Cross strives to provide scalable and timely cash assistance within hours after any UK emergency. Its mission is to support individuals and communities in preparing for, dealing with and recovering from a crisis, whoever and wherever they are. The charity responds to an emergency on average every four hours, ranging from domestic fires or utility outages to floods or terror attacks.

Jon Pewtner, UK Operations Cash Manager at the British Red Cross, comments: “By allowing families and individuals to use prepaid cards in the event of an emergency we are able to provide a safe, discrete and empowering way to distribute money to those in crisis. We now operate our Cash Assistance programme with a 24-hour support team. Working with Bankable, Paysafe and Visa we’ve been able to transform our approach to cash assistance and the way we provide funds to those in need in emergency situations. With this programme in place, we have been able to respond with agility and action throughout our COVID-19 response.”

Eric Mouilleron, Founder & CEO of Bankable said: “We’re proud to be supporting the British Red Cross in transforming their financial services and the provision of real-time funds to those in need. This is just one great example of the amazing work they do in supporting the nation in the event of a crisis.”

Lorenzo Pellegrino, CEO of Skrill, NETELLER and Income Access at Paysafe – responsible for the company’s Card Issuing division – added: “We’re seeing many innovative and specialised uses of prepaid cards, but this example is particularly powerful. We’re delighted to play a role in the British Red Cross’ transformation of its Cash Assistance programme.”

Bankable Announces Strategic Collaboration with Visa to Continue Growing Globally

  • Bankable announces strategic collaboration with Visa
  • Bankable opens new office[1] in the heart of the Flatiron District

New York, USA – February 4th, 2020 – Bankable, the global architect of “Banking as a Service” solutions, today announced a strategic collaboration with Visa in the United States. Bankable aims to provide Visa’s U.S. clients, including corporate and financial institutions, access to its real-time and modular banking solutions, enabling them to deploy digital banking and faster payment services. To accommodate ongoing work in the U.S., Bankable is opening an office in New York, which is Bankable’s fourth office after London, Brussels and Dubai.

The new premises will become Bankable’s U.S. hub, allowing the company to accelerate strategic initiatives across corporations, banks and fintechs headquartered in the country. The company is planning to make strategic hires in the next few months as the NY team will shoulder London and Dubai operations.

“Our strategic partnership with Visa represents a great opportunity to further accelerate digital payments innovation in the region. Our commercial team will initially focus on B2B payments,” said Eric Mouilleron, CEO and founder of Bankable. “As we already serve American clients, we see huge opportunities to digitally transform corporates headquartered in the U.S. as well as leading regional, community and selected global banks organized to support fintechs. We anticipate more than 50% of our revenues to come from the U.S. by 2024.”

“The financial ecosystem is evolving at rapid pace, and Bankable’s model helps financial institutions, corporates and fintechs be increasingly nimble to remain competitive,” said Terry Angelos, SVP and Global Head of Fintech, Visa. “Building on what we’ve done with Bankable in other regions, including CEMEA and Europe, we’re excited to now extend the partnership into the US.”

Notes to Editors:

For further information, please contact:

Sara Malinowsky at Bankable

sara@bnkbl.com / +44 20 3948 6034

About Bankable:

www.bnkbl.com

Bankable is a global digital banking and payments platform. We help financial institutions, corporates and FinTechs deploy, orchestrate and operate highly differentiated payment solutions with quick time-to-market.

We provide an exhaustive range of digital banking and payment solutions under a “Banking as a Service” model. Our core digital banking platform is available in white-label or via APIs, enabling our clients to quickly deploy banking solutions – including digital banking solutions, virtual account solution, payment processing services, card programmes and mobile wallet services. Our client base includes both regulated financial institutions (Banks, Electronic Money Issuers, Payment Institutions, Insurance companies…) and non-regulated global corporates and FinTechs who use our platform and Partner’s Ecosystem to deploy digital banking and payment services and generate new revenue opportunities.

Our motto: “quick time-to-market”

Bankable’s rapid implementation approach enables clients to generate revenues faster, increasing their valuation and attractiveness. By promoting pilot-based-experimentation, Bankable allows its customers to quickly launch, test and validate a new service before moving towards a seamless deployment.

[1] New York office is solely operated by Bankable

Bankable And Moneyou: Friendly Fintechs Challenging The Status Quo

European retail online bank Moneyou has announced today that it will be diversifying its portfolio to leverage Level 39 payments service provider Bankable’s multi-wallet and multi-card technology to target millennials in the Netherlands and in Germany. Moneyou understands the changing needs of the customer in a unique way and is continuously improving their products and services to meet these needs. Branded the friendliest fintech to incumbents, Bankable is renowned for its rapid implementation and in turn, the ability to generate revenue at a faster rate.

To read the full article, click here.

ABN Amro turns to Bankable platform for digital unit Moneyou

Bankable’s Banking as a Service platform powers Moneyou BV, the fully digital consumer subsidiary of ABN Amro. The service is now opened to selected customers in the Netherlands.

Moneyou is a financial service provider launched by ABN AMRO under a separate brand in 2001 and active in 4 countries in the EU. Moneyou provides savings accounts to more than half a million customers and is now diversifying its offering by leveraging Bankable’s latest generation multi-wallet and multi-card technology to launch a full product portfolio targeted at millennials in the Netherlands and in Germany.

For the full article, click here.

Bankable va fournir à Moneyou, filiale digitale d’ABN Amro, un service de comptes courants

Les Echos, France’s leading financial news paper, highlights Bankable’s Banking as a Service platform powering of ABN AMRO Bank’s fully-digital consumer subsidiary, Moneyou.

“Encore balbutiante en Europe, la distribution de briques de services bancaires par des jeunes pousses de la finance passe un cap. Ce ne sont plus seulement d’autres fintech désireuses de croquer des parts de marché plus rapidement qui se montrent intéressées : les banques européennes, elles-mêmes, signent désormais aussi des partenariats avec ces nouveaux spécialistes de la « banque Lego ». Moneyou, filiale d’ABN Amro spécialisé dans l’épargne, va ainsi annoncer ce mardi la signature d’une alliance avec Bankable. Cette jeune pousse britannique a vocation à fournir un compte courant aux 500.000 clients détenteurs d’un produit d’épargne chez Moneyou aux Pays-Bas, en Allemagne, en Belgique et en Autriche. « Avec ce partenariat, nous n’accédons pas seulement à un produit de banque au quotidien centré sur le paiement. Nous allons bénéficier d’une plate-forme bancaire très agile, qui va nous permettre de construire avec Bankable des services adaptés aux nouveaux besoins de nos clients », se félicite Liesbeth Rigter, directrice générale de Moneyou.”

Ninon Renaud

For the full article in French, click here.

Les Echos features Bankable amongst top 3 next generation banking providers

Les Echos, France’s leading financial newspaper, highlighted Bankable’s Banking as a Service solution amongst their top three picks for the next generation banking providers. The description translates to the below:

Founded in 2010 and backed by Raphaels Bank’s banking license, this new startup is part of a prepaid card issuance programme to become an open platform for white-label banking services to next-generation banks, telecom players and banks themselves. Deutsche Bank and Spendesk (a FinTech firm) are amongst its customers. Bankable’s ambitions also include assisting governments to tackle financial inclusion.

For the full article in French, click here.

 

Eric as a speaker at Cloud Expo Europe

Eric Mouilleron, Founder and CEO, presented the advantages of an agile approach when working with global banks and open APIs at Cloud Expo Europe as a panellist during the “Collaboration via Open APIs” panel. Eric elaborated on the desire behind the Open APIs approach and the opportunities it brings for joint innovation with incumbent banks. The event’s finance and FinTech agenda was designed by FinTech Circle and focused on Open API strategies to foster innovation in the industry. Learn more about the event here.

 

 

“Being a client of banks is great!” Eric on working with incumbent banks at WSBI’s Innovation Conference in Brussels

The World Savings and Retail Banking Institute (WSBI) held an Innovation Conference in Brussels where Bankable Founder and CEO, Eric Mouilleron, was invited as a panellist. The WSBI brings together savings and retail banks, representing the interests of 6,000 financial institutions in around 80 countries worldwide. The event’s theme “Gearing up for Digitisation – Bringing Retail Banking to the Digital Age” brought established financial institutions and start-ups together on the same platform. Eric highlighted the importance of digital innovation  and working with global incumbents within the context of retail banking products and services in the digital age. “Being a client of banks is great!” Eric mentioned during the panel session. Moderating the panel was John Rega (Chief Correspondent for Financial Services at Mlex) and panellists included Jan-Olof Brunila, (Deputy Director, Group Cards at SwedBank), Frank Roessig (Advisor, Stellar), Dr. Joachim Schmalzl (Executive Member of the Board, DSGV), and Michael Stephan (Founder and COO, Raisin). More details on the event here.

Bankable CEO Keynote Speaker at FinTech Business Breakfast at the British Ambassador’s Residence in Luxembourg

Founder and CEO, Eric Mouilleron, was invited to present Bankable at Her Britannic Majesty’s Ambassador John Marshall’s residence in Luxembourg. The business breakfast revolved around around the relations between FinTechs and incumbent financial institutions, as well as FinTech policy and regulatory direction. Mr Phil Vilder, Head of Global Markets and International FinTech Lead HM Treasury, and Mr Matthew Alder, Policy Adviser for FinTech at HM Treasury also provided their expertise on regulation and FinTech at the business breakfast.