Payrailz, a digital payments provider offering advanced bill payment and money transfer products to banks and credit unions, has officially launched.
The Connecticut-based company wants to help financial institutions succeed by offering a smarter, faster and more engaging payment experience that surpasses the products available, according to a press release.
Joining the Payrailz team as CEO is industry veteran Fran Duggan.
Duggan has more than 30 years of experience in financial services and financial technology companies, most recently as CEO of Innoveera, a payments consultant firm. Prior to that he founded Payveris, a bill payment start-up. He has also served as a senior executive for 10 years at Webster Bank where he originated and directed the development of award-winning online banking and payment applications.
“Payrailz is engineering solutions that address the cultural need for technology to simplify our lives,” Duggan said in the release. “Consumers today are growing to expect the same experience of convenience and simplicity from their financial institutions that they demand in all aspects of their lives, whether ordering food to be delivered to their homes or arranging to be driven across town. We are searching for new ways to let technology simplify daily transactions to a mere afterthought for consumers.”