Railsbank Powers sync., the World’s First Digital Smart Open Banking App

  • Open Banking
  • 28.01.2021 01:32 pm

Railsbank, the leading global Banking-as-a-Service platform, is helping to power sync., the world’s first digital smart open banking app.

Based in the UK, sync. is one of the most innovative financial apps to be launched, aiming to help customers budget, manage and track their money in one place, offering a unique user experience as a money management platform with tailored insights. It does this by leveraging Open Banking, allowing users to connect all their debit and credit accounts, loans and mortgages alongside its own sync. X card, driven by Mastercard.

The app’s features will include creating and holding money in a GBP and/or EUR current account, currency exchange, money transfers, debit card payments, budgeting features and worldwide instant digital payments (Peer-to-Peer and QR code). Their Premium accounts will debut in 2021.

sync., launched in August 2020, has a 30-strong team, based in London and Malaga, and plans to launch several new app features in the coming months.

Louisa Murray, Railsbank COO, UK and Europe, said: “This is certainly one of the most innovative apps we have on our platform and we are delighted to have sync. as a customer. Its ambitions reflect our approach to financial services, as it sets out to make using and controlling your money an easy and painless process, in short, to empower the financial consumer. We look forward to working closely with the team as they build out what will be an increasingly powerful app over the coming years.”

Ricky Lee, CEO and Co-Founder of sync., added: "Railsbank gives us the basics we need to enable massive growth in 2021. Their tried and tested platform is the solid base from which we can launch our premium accounts, advanced budgeting features and so much more this year. Plus, it will allow our customers to seamlessly manage their day to day banking with instant transfers, spending insights and holding money in GBP and EUR accounts."

Railsbank is based in the UK (headquartered in London with further offices in Newcastle) and has offices also in Singapore, Lithuania, Germany, the Philippines, Malaysia, Vietnam, Sri Lanka and the US.

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