Dough CEO Andy Taylor and Railspay CEO Ben Smith
The Dough financial management app is expected to offer traditional basic banking services in Australia through a partnership with Railsbank.
UK-based Railsbank, operating as Railspay in Australia, will allow Douugh to provide bank accounts, debit cards, financial management assistance, equity and cryptocurrency transactions backed by Railspay’s own Banking as a Service (BaaS) alliance with Volt Bank.
With this new partnership, Dough is expected to officially launch a âsuper financial appâ offering in Australia in mid-2022, pending the final accreditation Railsbank will obtain from Volt Bank.
Dough is also expected to launch its banking products and services in the UK, Europe and South East Asia through the BaaS partnership after the Australian launch.
Dough founder and CEO Andy Taylor said the partnership would allow Dough to scale faster.
“By partnering with Railsbank, Douugh will quickly have access to fully licensed bank accounts issued by ADI, connection to various payment rails in Australia and Douugh branded debit cards,” Taylor said in a statement. .
âWe will also be able to enter new markets much more efficiently and develop much faster. “
Railsbank recently entered into a similar partnership with the micro-business banking app Parpera, enabling fintech to offer self-employed digital tools such as invoicing, cash statements and tax returns.