Payrailz enters the market to provide credit unions and banks with a more engaging and smarter payment solution. Payrailz, a company that deals with digital payments, has announced its official launch of a money transfer and bill payment solution that will be targeting credit unions and banks. The company was founded with the aim of assisting financial institutions in offering faster, more engaging, and smarter payment experiences that surpass traditional payment solutions. Additionally, Payrailz is set to challenge alternative solutions that are attempting to transform the financial industry.
The technology behind the Payrailz’s technology is inspired from other areas of practice that are leveraging artificial intelligence and modern technologies to automate various tasks. The company believes that the financial industry is more than ready for solutions that do tasks for them to ensure money transfer and payment needs are managed more efficiently.
Payrailz’s sophisticated and intelligent technology aims at propelling financial institutions to be a step ahead of competitors by providing their consumers with unique mobile and online experience. Connecting emotional with consumers goes beyond transactions. Developers of payment solutions have to understand how consumers think when it comes to monetary transactions in order to meet consumer expectations. Payrailz technologies are based on AI engines, adaptable user interface, and robust SDK. These attributes make it possible for the solutions to be adapted to consumer needs that create an emotional connection.
Fran Duggan is joining Payrailz as its new CEO. Being a veteran in this industry, Duggan has rich fintech and banking experience that mainly touches on payment technologies. His experience inspires him to reassess outdated attitudes to financial payments and come up with innovative solutions by leveraging modern technology to manage payments.
Duggan boasts of three decades of experience working with financial technology firms. He recently worked with Innoveera as the CEO. Innoveera is a payment consultant firm. Duggan also founded Payveries, a startup for bill payments. He also worked with Webster Bank for a decade, where he oversaw development of online payment and banking applications. As the new Payrailz CEO, Duggan brings in vast experience in payment solutions. His track record in creating innovative payment platforms will be an added advantage to Payrailz.
Payrailz is being funded by top financial organizations and investors. Live Oak is the leading investor in Payrailz. James Mahan, the Live Oak CEO, reports that his firm is proud of partnering with Payrailz. He notes that the corporate philosophy behind Payrailz is to reinvent how financial and banking services are done. These solutions are all aimed at giving consumers a better payment experience and enhance the banking operations of financial institutions.
According to Dugan, Payrailz is developing solutions that will address the need for innovative technology to make life easier. He added that consumers are having more expectations of getting simplicity and convenience from their banks and other financial institutions, just like they demand the same in other aspects of life. For instance, consumers now want home deliveries when they order products. Similarly, banking institutions are looking for newer ways of applying technology to simplify financial transactions and meet customer expectations.