Powerlytics Partners with Railz
Powerlytics and Railz have partnered to provide banks and other financial institutions with a 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' business financial data, covering the complete financial statements and performance ratios on 30 million U.S. businesses, to augment its 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," said Kevin Sheetz, Powerlytics' co-founder and CEO, in a statement. "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 with a better understanding of their competitive landscape, providing more relevant financial products, and building 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," said Sohaib Zahid, co-founder and CEO of Railz, in a statement.