DOYLESTOWN, Pa.--(BUSINESS WIRE)--Powerlytics and Railz have partnered to provide banks and fintechs with a powerful new benchmarking product via more granular and actionable data to better support small business and mid-market customers’ success. As part of the agreement, Railz will integrate Powerlytics’ proprietary business financial data covering the complete financial statements and performance ratios on 30 million U.S. businesses to augment its leading Accounting Data-as-a-Service™ API and platform.
“Growth in the financial technology and open banking space, and the impacts of the COVID-19 pandemic, have made it even more challenging for banks and fintechs to predict the financial needs of the small businesses they serve,” says Kevin Sheetz, Powerlytics co-founder and CEO. “Railz’s elegant API integration provides a powerful opportunity to help banks and alternative lenders leverage the value of Powerlytics’ business financial data, which represents the most accurate, granular, and comprehensive source in the marketplace.”
The integration between Powerlytics and Railz provides banks and fintechs access to a deep financial profile of their business customers, along with corresponding performance opportunities based on the benchmark data of their customers’ competitors. Together, Powerlytics data and the Railz platform help financial services companies drive deeper and more impactful relationships with their business customers by better understanding their competitive landscape, providing more relevant financial products, and building the most effective credit models to improve decisions around small business loans.
“Our partnership with Powerlytics will empower the banks and fintechs using the Railz platform to deliver the most relevant products and services that will best help fuel their business customers’ growth,” says Sohaib Zahid, co-founder and CEO of Railz.
About Powerlytics
Powerlytics provides the most comprehensive, accurate and granular consumer and business financial data available in the U.S. Our proprietary big data analytics platform analyzes anonymized financial information from publicly available U.S. government sources and reconstructs it into easily understood and actionable financial information that provides a comprehensive financial view of the over 200 million adults and 30 million businesses that comprise the American economy. Major U.S. corporations and financial services providers are using Powerlytics’ data to stay on the cutting edge with predictive analytics, frictionless verification and estimation of consumer income and business revenue, manage risk with both individual business and consumer customers and portfolios, discover potential markets, develop digital marketing campaigns, benchmark performance, enhance both business and consumer target marketing. Visit www.powerlytics.com for more information.
About Railz
Railz is building the largest financial data network to support the future of finance. Railz is the only financial data-as-a-service solution that connects, normalizes, and provides insights and analytics on financial data from top accounting service providers. We do this to support our financial service providers, financial institutions, and fintechs, and give them the ability to make decisions faster and more effectively for their commercial and small business customers. Out of Toronto, Canada our fintech company recently raised our Series A to scale our Accounting Data-as-a-Service platform.
