Railsbank API

Railsbank is a UK-based banking-as-a-service (BaaS) platform that provides APIs and SDKs for developers to build financial applications and services. The company was founded in 2016 by Nigel Verdon and Clive Mitchell, and it is headquartered in London, UK. Railsbank’s mission is to enable anyone to build, launch, and scale financial products by providing easy access to a range of financial services through APIs.

Railsbank has been using APIs from its inception and has built its entire platform around APIs. The company offers a suite of APIs that provide access to various financial services, including account opening and management, KYC/AML checks, payments, card issuance, and more. These APIs are designed to be simple, flexible, and developer-friendly, allowing developers to easily integrate Railsbank’s services into their applications.

Railsbank’s APIs include:

Account API: Provides access to account opening, management, and transactions. Developers can use this API to create and manage customer accounts, view account balances and transaction history, and initiate transactions.

Cards API: Enables the issuance and management of prepaid debit cards. Developers can use this API to issue virtual or physical cards, manage cardholder data, and control card spending limits.

Payments API: Facilitates payment processing and transfers. Developers can use this API to initiate payments, schedule recurring payments, and manage payment workflows.

Compliance API: Provides access to KYC/AML checks and compliance workflows. Developers can use this API to perform identity verification, screening against sanction lists, and other compliance checks.

Railsbank takes security seriously and has implemented various measures to ensure the safety of its platform and customers’ data. These measures include encryption of sensitive data, secure transmission protocols, role-based access controls, and regular security audits.

In terms of future plans, Railsbank aims to expand its presence globally and provide more financial services through its APIs. The company has already established a presence in the US, APAC, and Europe, and it plans to expand further in these regions and beyond. Additionally, Railsbank is constantly improving its APIs and adding new features to meet the evolving needs of developers and their customers.

Railsbank’s technology stack is built on a microservices architecture that allows for flexibility and scalability. They use modern programming languages and tools such as Kotlin, Java, Kubernetes, and Docker to build and deploy their services. This architecture allows for rapid development and deployment of new services and products.

Railsbank’s use of microservices architecture allows for a highly modular and scalable system. In a microservices architecture, the application is broken down into smaller, more specialized services that can be independently developed, deployed, and scaled. This makes it easier to add new functionality to the platform without disrupting existing services, and to quickly respond to changes in customer needs.

The use of modern programming languages like Kotlin and Java allows for efficient and performant code, while Kubernetes and Docker provide a robust containerization and orchestration system. Containers allow for easy deployment and management of services across multiple environments, while Kubernetes provides automated deployment, scaling, and management of these containers.

Railsbank also uses APIs extensively to connect its various microservices and to integrate with external systems. APIs allow for easy communication between different services and systems, and can be used to expose certain functionality to external developers or partners.