London-based Railsbank has partnered with Australian neobank Volt and the former plans to improve and provide fintech opportunities in the country. Railsbank wants to use Volt’s banking-as-a-service platform to distribute various products, such as cards and payments. This is a partnership that will contribute to Railsbank’s expansion in the Asian region.
Open banking got a slow start in Australia, but by adding cards in summer 2020, the country also contemplates adding more financial services this year. The concept of online banking has been rising in recent years, and Australia is no exception.