WALLESS Assisted UAB PAYRNET in Successfully Obtaining an E-Money Institution Licence from the Bank of Lithuania

WALLESS assisted UAB PAYRNET, a subsidiary of a rapidly growing Railsbank Group, in successfully obtaining an electronic money institution license from the Bank of Lithuania.
Railsbank is a leading global open banking and RegTech platform that enables any bank, business, or brand to become a FinTech rapidly. Over the years of operation, Railsbank has been recognized for its banking innovations and leadership in the financial market and was awarded the FinTech50 2017 and 2018, winners of Best Fintech Startup at MoneyConf 2018, winners of the Simmons & Simmons FinTech Fund in 2016 and Startup Pitch winners at Paris FinTech Forum 2017. Moreover, earlier this year Railsbank announced a strategic investment from Visa and has signed a five-year partnership to deliver banking-as-a-service innovation in Southeast Asia.
Railsbank opened an office in Vilnius in 2018 and has an engineering team of around 30 people, ensuring the Group’s further growth globally.