Railsbank API

Railsbank is a BaaS platform based in the UK that offers developers access to its APIs and SDKs for building financial applications or services. In 2016, Nigel Verdon and Clive Mitchell founded the company that is headquartered in London, UK. It aims to facilitate the creation, launch and expansion of financial products for everyone by providing simple access to various financial services via APIs.

From its inception, the company has been utilizing APIs and constructing its entire platform around them. Various financial services including account opening and management, KYC/AML checks, payments, and card issuance are accessible via the company’s API suite, and more. It has made it easy for developers to integrate its services into their apps by designing these APIs with simplicity, flexibility and being developer-friendly.

Access provided by the Account API includes managing accounts, opening new ones as well as conducting transactions. To create and manage customer accounts, view account balances/transaction history or initiate transactions – developers can make use of this versatile API.

The API for cards allows the management and issuance of prepaid debit cards. This API enables developers to generate virtual or physical cards, oversee cardholder information, and regulate credit limits.

The Payments API enables easy payment processing and transfers. Payment initiation, scheduling of recurrent ones and management of payment workflows are possible for developers using this API.

The API for Compliance: Grants entry to compliance workflows and KYC/AML verifications. To perform identity verification, screen against sanction lists and conduct other compliance checks; Developers can make use of this API.

To ensure the safety of its platform and clients’ data, Railsbank has implemented various measures because it takes security seriously. The implementation of various measures including encryption of sensitive data, secure transmission protocols ,role-based access controls and regular security audits ensures that sensitive information is protected.

Expanding globally while also increasing the variety of financial services available via their APIs are among Railsbank’s future goals. After establishing themselves in the US, APAC,and Europe,the company is focused on expanding their reach even more throughout these areas along with other locations. Moreover, Railsbank is consistently upgrading its APIs and appending novel characteristics to fulfill the changing needs of developers and their consumers.

A microservices architecture underpins Railsbank’s technology stack, allowing for both flexibility and scalability. They leverage modern programming languages like Kotlin, Java, along with cutting-edge tools such as Kubernetes & Docker to develop & deploy their services. Developing and deploying new services and products is made quick thanks to this architecture.

A highly modular and scalable system is made possible by the implementation of microservices architecture at Railsbank. In a microservices architecture approach to development of applications. The idea is to break down the applications into smaller manageable components (micro-services) that each have their own independent lifecycle. Responding rapidly to changing customer demands is simplified by making it simpler for new functionality on the platform added without disrupting current services.

Creating efficient code that performs well is possible with modern programming languages like Kotlin or Java. Furthermore, Kubernetes & Docker are trusted systems for containerization & orchestration. Automated container management and deployment with Kubernetes simplifies service deployment across different environments.

The extensive usage of APIs helps Railsbank in connecting its multiple microservices and integrating with external systems. By using APIs, external developers or partners can be given controlled access to certain functionalities while enabling smooth communication between various services and systems.