Railz Integrates with Plaid: Getting you the financial data you need to build your fintech solution

November 4, 2021
railz integrates plaid financial data

Railz Integrates with Plaid: Getting you the financial data you need to build your fintech solution

Plaid is the easiest way for people to connect their financial accounts to an app, which enables companies to build financial technology (fintech) solutions. Much like Railz, Plaid knows the importance of building the infrastructure of the future of financial products. In our pursuit of building the largest financial data network, we have to provide you financial and accounting data across many service providers. We are so excited about our latest integration with Plaid and the ability to enable your customers to connect their financial applications so you can ensure the accuracy of your small- and medium-sized business customers' financial data.

What is Plaid?

Plaid helps all companies build fintech solutions by making it easy, safe, and reliable for people to connect their financial data to apps and services. Plaid built a data transfer network that powers fintech and digital finance products. Plaid makes it easy to securely connect your bank to the apps you want to use. Plaid is a third-party provider of open banking services that supports over 11,500 institutions across North America and Europe.

Some of the most popular financial technology companies are built on Plaid, including Venmo, Robinhood, Coinbase, Betterment, and Acorns.

Railz now integrates with Plaid

You can now use Railz with Plaid to securely connect to, retrieve, and view your customers' banking data.

Our initial integration allows you to get access to a business':

  • Bank account balance:
  • Account type
  • Masked account number (if available)
  • Current balance and limits.
  • Bank transactions:
  • Recent account transactions
  • Payments
  • Cheques
  • Cash transactions

Please note that you'll need to register with Plaid before you're able to access data from their platform through Railz.

What’s next for the Railz integration with Plaid?

We know that account reconciliation is an integral task to ensure the accuracy of a small- and medium-sized businesses’ financial data. One of the main reconciliation activities is to match a business’s accounting data with their banking data and we want to be able to provide this to you through our integration. Account reconciliation allows for more accuracy in the accounting data you’re presented on a business. It also increases our confidence in financial forecasting as well as with Railz insights and analytics. Our next release with the Plaid integration will allow you to view an accounting accuracy score to show you the percent of matching transactions in support of the account reconciliation efforts.

Please join our Slack Community if you have any feedback, questions, or requests surrounding the Plaid integration. We can’t wait to see what you build with Railz and Plaid!

Director of Marketing

Samantha Lloyd is the Director of Marketing at Railz. We're building the largest financial data network to support the future of finance. She has a decade of experience building organic growth, brand, and digital marketing for startups and technology companies. In her free time, you can find Sam SCUBA diving, snorkelling, paddle boarding, and jet skiing.