Aspire first SME-focused Neobank in South East Asia to use Railsbank Singapore Dollar bank accounts

Railsbank ( , the
leading global open banking platform, announces that
Singapore-based Aspire ( , a digital
platform providing financial solutions for small and medium
businesses, is the first SME-focused Neobank in Southeast Asia to
use its Singapore Dollar (SGD) bank accounts.

Aspire is serving a new generation of digital-savvy
businesses with a mobile-first business account. It’s flagship
Aspire Business Account can be opened online in just a few clicks
with no minimum deposit and no monthly fees. It comes with a Visa
( Corporate
Card and an instant revolving credit line for daily business
expenses and other tools to help business owners with cash flow

The leading SME-focused fintech is currently
operating across Singapore, Indonesia, Thailand, and Vietnam, and
is collaborating with Railsbank’s SGD bank account to complement
its unique digital banking experience for its SME customers.

The Railsbank SGD bank accounts were first launched
in February and are built using APIs. They complement the
currencies used in countries that Railsbank already operates in,
including the UK, Europe, SE Asia and the US. Railsbank opened its
Asia hub in Singapore in Q4, 2019.

Customers use Railsbank’s technology platform to
rapidly integrate their core banking capabilities in their own
mobile and web apps through a convenient set of APIs.

Nigel Verdon (
, co-founder and CEO of Railsbank, said: “We are
especially pleased to be able to offer our customers Singapore
Dollar (SGD) bank accounts and Aspire is a great example of the
sort of dynamic customer we like to do business with. They are one
of the companies which is setting a fast pace in the APAC region
and we look forward to helping them fuel their continued

“We consider it a great achievement that although
we have been in Singapore for such a short time, we have introduced
these bank accounts. We are also having a great dialogue with
companies throughout the whole region on how to leverage Banking as
a Platform.”

Andrea Barconchelli (
, CEO and co-founder of Aspire, added: “We are
excited to partner with Railsbank in Singapore to complement our
regional digital SME banking offering. Great to see leading open
banking companies such as Railsbank setting up shop in SouthEast
Asia. We see enormous value to be created in the next few years by
improving banking experience for our business users in SEA.”

Railsbank is headquartered in London and has offices
in Singapore, Lithuania, the Philippines, Vietnam and Sri

The post
Aspire first SME-focused Neobank in South East Asia to use
Railsbank Singapore Dollar bank accounts
appeared first on
The Fintech Times.