Bankable signed a direct strategic partnership with Arkea Banking Services, a European white-label banking pioneer, to power Agency Banking solutions as an additional layer to the Bankable product portfolio. Arkéa Banking Services will provide Bankable’s API banking Platform as a Service access to Euro payment rails – for both retail payments and real-time large-value payments.
Arkéa Banking Services, owned by France-based Credit Mutuel Arkea, will provide its principal member access solution to Bankable – empowering Bankable’s clients with access to Step 2 and Target 2 Euro clearing systems along with the ability to deploy local IBANs* on their own BIC (sort code) in most European countries.
* The IBAN (International Bank Account Number) is a unique number that identifies a bank account regardless of the bank or country in which this account is held. This standard effectively facilitates cross-border transfers.
Bankable’s proprietary API based Banking as a Service platform provides turnkey solutions for Challenger Banks with account/card issuance and management, transaction processing, as well as compliance and ancillary services.
The Bankable-Arkéa Banking Services partnership empowers Challenger Bank initiatives originated by Incumbents or FinTechs to focus on their brand, distribution and client acquisition instead of reinventing the “infrastructure wheel”, in turn translating to accelerated time to market.
Bankable has successfully delivered projects for demanding Tier-1 banks and FinTechs for the last six years. Bankable’s speedy implementation approach enables clients to generate revenues faster, increasing their valuation and attractiveness.
By promoting pilot-based-experimentation, Bankable allows its customers to quickly launch, test and validate a new service before moving towards a seamless deployment.
Christophe Bitner, President of the Executive Board of Arkea Banking Services, commented: “We are very excited to partner with Bankable. As a pioneer in white-label banking services, we are thrilled to onboard new FinTech and Incumbents via Bankable. This strategic partnership also fuels our white-label cross-border development strategy in Europe."
Eric Mouilleron, Bankable’s CEO and founder commented: “We met Ronan Le Moal the CEO of Crédit Mutuel Arkea and his team in 2010, the year Arkea Banking Services was launched. Over the years, we have fostered mutual respect between our two organisations as we both provide white-label infrastructure solutions. Arkea Banking Services connects our API banking platform to Euro payment rails both for retail payments (SEPA credit transfers and direct debits via STEP2) and real time large-value payments (via TARGET 2) engines. As a team, we are now changing speed to welcome and serve the most ambitious FinTech or Incumbents to leverage both Bankable and Arkea Banking Services platforms."