The London-based FinTech company, Bankable, decided to host its solution in Luxembourg, within EBRC’s Tier IV Data Centres. "To win the trust of our clients, we have to rely on partners offering excellent quality of service", says Eric Mouilleron. “ERBC's certifications, which are backed by stringent procedures and state-of-the-art infrastructures, guarantee the highest level of security and availability.”
Bankable provides an exhaustive range of payment solutions under a “Banking as a Service” model. The Bankable core virtual account management platform is available in white-label or via APIs, enabling any corporate to deploy digital banking solutions, virtual account services, card management and processing services, and payment processing services.
Bankable offers "banking as a service"
A partnership approach
Bankable was founded in 2010 by seasoned entrepreneur Eric Mouilleron, who had previously set up and successfully led the technology consulting firm Valtech to an IPO – Valtech now has 1,200 employees in 8 countries. Fuelled by this technological success, Eric then found that the stiff payment space needed to be democratised. This realisation came to him after he attended the first Mastercard prepaid conference in Prague in May 2007, an event which provided him with insights into the European payment space.
From the beginning Bankable was set up by design to legally, technically and commercially build long-lasting partnership with banks and global corporates. Since 2012, Bankable has stood as “the friendliest FinTech to incumbents”: a controversial statement in the earlier days since most FinTechs then aimed to destroy the banking industry. Despite the general apprehension and competitiveness, Bankable that year signed its first bank partnership with Deutsche Bank Global Transaction Banking. Today, Bankable is partnering with several European banks, Moneyou (a subsidiary of ABN AMRO), the French challenger Ditto Bank, and others that cannot be mentioned. Bankable client base ranges today from global corporates, banks and insurers, to SMEs and FinTechs who leverage its platform to streamline payments processes and generate new net revenue.
Services that don’t require integration
Bankable’s aim is to enable banks to focus on their brand and offers, and to quickly launch products in new territories as well as easily target new categories of customers. Their versatile card programmes are leveraged to facilitate large corporates’ payroll, expenses and purchase management. They empower FinTechs by easing the quick launch of innovative payment tools for niche groups. The Bankable virtual ledger manager solution allows large entities overwhelmed by complex reconciliation operations (such as insurance companies) to streamline processes including admin & fraud management, with real-time financial support to beneficiaries.
Focusing on a quick time to market
Bankable work with the entrepreneurs of companies, the persons that have identified pain points they wish to solve with urgency and help them capture new net revenue in the process by leveraging the Bankable single multi-channel platform. With a strong business case-based approach, Bankable provides their customers with quick time to market, offering a full turnkey solution tailored to client’s business needs.
Globally connected to custodian and issuing banks, processors, card manufacturers and other suppliers in the payments ecosystem, the FinTech company provides programme management services. Bankable delivers an end-to-end solution for corporate and consumer payment programmes.