Railz x Prodigy’s IDVerifact bring secure digital transformation to financial institutions
Tags: Financial Technology, Digital Security, Technology News, Fintech, Digital Identity

Railz x Prodigy’s IDVerifact bring secure digital transformation to financial institutions Railz Jul 22·3 min read

Railz is excited to announce its partnership with Prodigy’s IDVerifact!

Railz and Prodigy’s IDVerifact to prevent risk in accounting

Thanks to our exciting partnership with Prodigy’s IDVerifact, our users can prevent risk with real-time accounting data, offering an exciting yet secure digital transformation for financial institutions.

What is Railz?

Railz is the only financial data-as-a-service solution that connects, normalizes, and analyzes financial data from top accounting service providers. We do this to make financing decisions faster, better, and easier for financial institutions and 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.

What is Prodigy?

Prodigy delivers Fintech innovation by providing leading edge platforms, including IDVerifact™ for digital identity , and new Fintech platforms for open banking and payments. Our services business, Prodigy Labs™, integrates and customizes our platforms for unique enterprise customer requirements, and provides technology services for digital identity, payments, open banking and digital transformation. Digital transformation services include strategy, architecture, design, project management, agile development, quality engineering and staff augmentation. Prodigy has been recognized as one of Canada’s fastest growing companies with multiple awards: Deloitte’s Fast 50 Canada and Fast 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018), Growth List (2018, 2019 and 2020), and Canada’s Top Growing Companies (2019 and 2020).

What is IDVerifact?

A Prodigy venture, IDVerifact provides the ability to combine and access a complete suite of leading digital identity providers to meet any business use case. With IDVerifact, organizations stay ahead of fraud, quickly identify risk, and ensure compliance while optimizing their ability to grow revenues and improve client experiences with digital transactions. Providing solutions for identity proofing, KYC, AML, zero proofing and risk proof management.

Railz and Prodigy’s IDVerifact partner up

For financial institutions (FIs) the Railz and IDVerifact partnership means that FIs can integrate with our data-as-a-service platform and have the combined trust of leading digital identity providers to mitigate risk, fraud, and more in their data analysis.

IDVerifact will integrate Railz real-time accounting data into the IDVerifact platform through our single API key. IDVerifact’s goal is to create the most comprehensive digital identity platform and trusted digital asset solutions to enterprise clients. Beyond that, the Railz platform helps these enterprise clients have deeper and more impactful relationships with their small-medium business (SMB) customers

George Colwell, the Senior Vice President (SVP) of Digital Practices at IDVerifact

George Colwell, the Senior Vice President (SVP) of Digital Practices at IDVerifact states, “Railz is leading in the delivery of accounting data as a service and provides IDVerifact with a unique source of digital assets providing a clear view of a company’s cash flow and, more importantly, easily including those insights directly into a digital process. IDVerifact includes accounting data as a service as part of our risk pillar for small and medium enterprises and we are excited to count Railz as a partner, helping us build out our ever-growing list of unique digital assets in this space.”

We look forward to providing our financial institutions the ability to integrate with our data-as-a-service platform and have the combined trust of leading digital identity providers to mitigate risk, fraud, and more in their data analysis. Get in touch to request a demo or sign up to try Railz today!