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Fintech Start-up SPARQ Signs Agreement With Banking-as-a-Service Specialist Railsbank

11-19-2020 05:20 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: SPARQ

Tallinn, 1 November, 2020. Estonian start-up fintech SPARQ has signed an agreement with Banking-as-a-Service specialist Railsbank which will allow it to fully develop its personal finance platform designed to optimise people’s interaction with money.

Already in use with early adopters, SPARQ is for everyday use and aims to make its users feel that they are in control of their own money, and cut through the bureaucracy associated with financial services.

SPARQ is using the Railsbank platform to begin the process of building out its mobile application with a series of offerings and is also launching a prepaid card development project with Visa.

Danila Belokons, CEO at SPARQ, said: “This agreement signifies a very important milestone for SPARQ. We have already released our early adopter pack and we have seen a huge growth in new users to the platform, despite it being in the very early stages of development. Working with the Railsbank platform means we can use a wide range of its functions and draw on the team’s experience we roll out our product.”

Once the full integration of financial services with Railsbank is finished, SPARQ will be able to offer a full financial service pack inside its mobile application. This will allow users, said the company, to better manage their finances as part of the whole SPARQ ecosystem.

Louisa Murray, a VP at Railsbank and Head of Sales: "SPARQ is building a great platform and we are enjoying working with the team as they develop their product. They are making full use of the Railsbank platform functions and making significant in-roads into simplifying financial services for its users. We wish them success as we continue to work together.”


About SPARQ

SPARQ - Personal finance platform for everyday use. Take full control of your finances!

For more information, visit https://early-access-pack.sparq.eu/


About Railsbank

Railsbank (www.railsbank.com) is the only global Banking-as-a-Service platform. It enables any business, or brand to be a fintech.

The company is also a pioneer and innovator in the Banking as a Platform (BaaP) and Financial Services as a Platform (FSaaP) sectors, defining the future of finance for consumers and SMEs.

Railsbank allows marketers, product managers, developers, CEOs and founders to rapidly prototype, launch and scale financial products using its open finance platform which includes operations, regulatory licensing and a rich set of simple APIs.

Railsbank’s APIs are the building blocks that enable customers to build pretty much any financial use-case they can imagine, meaning its customers can deliver delightful finance experiences to consumers and businesses.

It was founded by serial entrepreneurs, and fintech veterans Nigel Verdon and Clive Mitchell in 2016.

SPARQ
Latvia, Riga, Dzirnavu iela 140, LV-4600
Presscontact
Aleksandra Markova
aleksandra.markova@sparq.eu

Personal Finance platform for everyday use. Get the full control of your finances.
Our innovative product is developed for the milennials needs, so they could correctly comprehend the importance of the personal budgeting by using gamification and data-driven approach. We're developing our application so we could deliver a brand new financial approach for the users. A simple user experience that will change the narrative of the modern finances forever.

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