Railsbank gains innovative Hong Kong fintech Statrys

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Railsbank, the leading global open banking platform, announces that it has gained innovative Hong Kong fintech Statrys as a customer.

From its base in Hong Kong, Statrys provides online business accounts, and advanced payment and forex solutions for Asian SMEs. It offers banking services without the hassle of dealing with a bank. Statrys is focussed on serving entrepreneurs, start-ups and more established SMEs, many of whom are overlooked by the traditional banking system.

Bertrand Théaud, Founder and Director of Statrys, shares: “Working in partnership with Railsbank to offer local currency accounts is an important value add to our clients. It is clearly a major achievement in our effort to provide Asian SMEs with more effective payment solutions for their international business.”

Railsbank is expanding throughout Asia from its regional hub in Singapore. It recently received investment from Visa, the world’s leader in digital payments, and Global Brain, a major venture capital firm based in Tokyo, Japan.

It also announced a partnership with Visa to deliver Banking as a Service (BaaS) innovation in Singapore, the Philippines, Vietnam and Thailand, and recently became a Visa issuing member in Singapore. Being a Visa member and by joining Visa’s Fintech Fast Track Programme, Railsbank can now access Visa’s growing partner network, technologies and experts, enabling Railsbank’s customers to rapidly and effectively launch Visa-based products throughout Asia and beyond.

Nigel Verdon, co-founder and CEO of Railsbank, said: “I am very pleased to welcome Statrys into the Railsbank family. Founder and Director Bertrand Théaud has impressed us all with his determination to help those companies in Hong Kong that the traditional banks ignore. Financial inclusion is just as important for SMEs as it is for individuals, and this marries with the Railsbank fundamental belief that everyone should have access to banking services. We look forward to working with Bertrand and his team over the coming years.”

King Leung, Head of Fintech of Invest Hong Kong, said, “FinTech has become an important growth engine for Hong Kong and the rest of APAC. A silver lining from the pandemic is the acceleration of digitisation and Fintech adoption in Hong Kong. Also, the resilience and relatively quick resumption of business activities in Hong Kong is a timely reminder about the solid foundation as a global financial centre built by generations of professionals in Hong Kong. As a proven FinTech launchpad, Hong Kong hopes to connect APAC’s FinTech businesses with the post-COVID opportunities in Greater China, ASEAN and the rest of the world. We welcome the partnership between Statrys and Railsbank, which demonstrates the acceleration of financial inclusion to the Asian SMEs and active fintech investment in the region.”

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

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