Deployment Use Case
We are helping banks move closer to their customers and deliver new Fintech products to the right customers at the right time. Our Digital Banking platform and integration layer supports banks in their digital transformational journey faster than even their Fintech competitors.
Consumer
Pay directly from card, virtual card, eWaIIet or bank account:
- In-store shopping using contactless / QR payments
- Web merchants aggregation
- Mobile in-app shopping (Super APP)
- PCI-DSS and PA-DSS compliant
- In-built payment processing network
Adoptions
Multi entity (tenancy):
- Person to person (Card, account, QR and virtual)
- Person to business (via domestic interbank)
- Business to business
- Business to Person g. refunds, request to pay, insurance payouts
- Government to Person g. Social Benefits, Bill payments, Tax Refunds, etc
Future of payments
Bank app and Central Bank Solutions
- Integrating with a digital exchange
- Allow for purchase and selling of cryptocurrencies
- Ability to accept CBDC payments
- QR Code merchant acceptance
- Card issuing in stablecoins and digital assets
Business to Business
Buyer/Supplier + Rich Data
- SME Lending
- Loyalty – Redemption
- Invoice financing
- Fleet / corp card issuing
- Reconciliation and accounting
Cross-border
Intra/Inter-regional
- Global acceptance network
- Cross-border settlements
- Currency conversions
- Digital currency adoption
- Pre-funded capital eco-system
Value added services
Analytics and Fraud Solutions
- KYC using Neural Network
- Anti money laundering
- Identity solutions
- Corporate Fraud Insights
- Audio Chat App
Case Study
Reliance India
Digital Transformation journey started early 2021
Torus Digital – Neo Wellness Super-App
- Trading platform for stocks, shares and mutual funds
- Robo advisory platform with credit score and links to buy a number of financial products including lide and general insurance
- Bill payments for electricity, phone, water and gas
- Telemedicine with online consultation with a Dr
- Digital wallet with Visa card
- NEO Banking platform with KYC / AML in-app allowing users to open a bank account in minutes
Launched in BETA January 2023
Will go live to public in May 2023 and is expected to sign up 10M customers over 5years
Business Model
Over the past decades, the IT budget for banks has become coIossaI, with some departments empIoying more than 6,000 professionals! But shockingly, as little as just 5% of IT budgets goes towards innovation. A report by FinanciaI News found a whopping 80% of IT budgets gets sucked up by maintenance. Banks are spending upwards of $10 billion each year artificially preserving tech that cannot handle the demands of the future.
Railpays seaIable white Iabel digitaI banking platform soIves this problem and aIIows banks to launch in months not years. We work with our clients as a partner not supplier sharing in the profits and removing the need for banks to create a budget with zero setup fees.
