Reflecting on Success: Railz 2023 Product Updates and a Glimpse into the Future
In the rapidly evolving world of fintech, 2023 has proven to be a landmark year for innovation, collaboration, and breakthroughs, with Railz at the heart of it all. This year, we've not only transformed our product offerings but also carved out a niche in the fintech ecosystem, as evidenced by our accolades and partnerships. Let's dive into our journey of 2023, celebrate our milestones, and peek into what 2024 holds for us!
2023 PRODUCT UPDATES
A Story of Innovation and Excellence
2023 at Railz was a narrative of continuous enhancement, shaped by insights from our community and driven by our commitment to excellence. Our journey was marked by significant updates and recognition:
- Railz API V2 Launch & Enhancements: With feedback from our vibrant developer community, we've made our API more robust and intuitive. The introduction of the Common Data Model, Batch Functionality, and Raw Fields streamlined workflows, while expanded integration support brought versatility to our offerings. Learn more about API V2.
- Connectivity Experience Redefined: We've taken user experience to new heights with Railz Connect™️, offering a sleek modal window for customization and enhanced white-labeling options in Railz Sites™️. Our integration with Oracle Netsuite now offers faster and more efficient data retrieval. Explore the new connectivity experience.
- Sandbox and Data Management Innovations: The Railz Sandbox was revolutionized, offering a more robust testing environment. Improved data management capabilities now enable synchronization of data for up to 10 years. Additionally, customers can selectively choose the data types to retrieve first during the initial synchronization, enhancing analytical depth and providing quicker access to their data. Discover our Sandbox advancements.
- Account Management: Enhanced flexibility for enterprise customers to create multiple teams within the same Railz account, catering to various security and compliance needs.
- Zoho Books Integration: Our integration with Zoho Books marks another milestone in providing comprehensive accounting data access.Read about Zoho Books integration.
Visualizations SDK Expansion: The addition of Business Valuation capabilities to our SDK allows for more precise business insights.Explore our Visualization SDK.
ADVANTAGES OF LATEST PRODUCT UPDATES
- Reduced API Call Overhead: The introduction of batch functionality for transaction endpoints resulted in a significant reduction in API call overhead. Users experienced a 50x transaction processing time for overall data reconciliation and operational efficiency.
- Enhanced Connectivity Journey: The improved connectivity journey, based on user feedback, resulted in a 25% increase in successful data connections. Our API's adaptability and responsiveness to user needs contributed to a smoother and more reliable connection experience.
Comprehensive Historical Insights: With the ability to sync up to 10 years of accounting data and expansion of API endpoints, we now provide users with a wealth of historical insights, facilitating in-depth trend analysis that has helped increase 30% of our customers’ loan applications.
2024 & BEYOND: A Vision of Continuous Evolution
As we step into 2024, our roadmap is beaming with exciting prospects:
- Expanding Visualization SDK: We'll introduce more dynamic charts and data embedding options for a more seamless user experience.
- Enhanced Data Sync Options: Giving you more control over data synchronization to align with your system's capacity.
- Continuous Product Evolution: Based on ongoing feedback, we're dedicated to refining Railz Connect and tailoring it to your unique workflows. See what's on our 2024 roadmap.
CUSTOMER SUCCESS STORIES
Hear directly from our partners at FIS, M&T, and Corl about how Railz's innovations have propelled their businesses forward. These stories are not just testimonials but a testament to the transformative power of our collaborative efforts. Read our success stories.
Our collaboration with industry giants like FIS, M&T and notably Mastercard in their Start Path Open Banking Program has significantly contributed to our growth and understanding of the financial sector's needs. Learn more about these customer journeys.
TRENDS & HIGHLIGHTS
- This year, we've shared vital insights into fintech trends through our "Beyond the Data" podcast, YouTube support channel, and blog posts. Our leaders have emphasized the growing importance of banking integration in API technology.
- Recognition and Awards: Our efforts were recognized globally with prestigious awards, including the Best Open Banking API at the 2023 FinTech Breakthrough Awards and the Excellence in Data Privacy & Cyber Security Award at the CanadianSME Small Business Awards.
CONCLUSION: Your Partner in Fintech Innovation
2023 has been a landmark year for Railz, marked by recognition, innovation, and strategic partnerships. We thank our community for being part of this journey and invite you to join us as we continue to pave the way in fintech. For a more in-depth look at our achievements and future plans, visit our Product Roadmap. Visit our Product Roadmap.
Gabriela Gonzalez is a Product Owner at Railz. She works with the product and engineering team on the Platform squad to understand and represent customer needs, create the user experience and connectivity flow to our products, and develop and manage our customer dashboard to provide data insights and analytics. She has been working in the technology industry for over 4 years and she values taking a data-driven approach to building products to help solve customer problems.