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Railz Appoints Fintech Veteran as Chief Operating Officer to Help Accelerate Company Growth and ExpansionTORONTO, May 19, 2022 /PRNewswire/ -- Railz, a financial technology company that helps banks and fintech quickly harness and analyze small-medium business (SMB) data, announced that payments industry leader Amitaabh Malhotra has been appointed as Chief Operating Officer. Malhotra will spearhead Railz's strategy and scale operations as it enters a path of accelerated growth. Malhotra joins the company at a critical time, as the demand for innovative lending, underwriting, and payments solutions is accelerating in the SMB space. Railz provides a unified application programming interface (API) to in-depth normalized data from various popular small business software platforms, such as Quickbooks, Netsuite, Sage, and Xero. The company's technology extracts raw data, cleans it, and then offers insights to clients that need a quick assessment of a company's overall performance, cash flow, expenses, and other such financial metrics. With over 30 million SMBs in the US alone, there is a growing need to understand better and serve this segment. Railz is poised to be a critical component of the new wave of solutions and products catering to this space. Railz has experienced exceptional growth since its inception in 2020 and has over 120 customers that extend from tier-one financial institutions to emerging fintech players. Railz is being used to enable some of the hottest emerging use cases in fintech, including insant credit, enhanced underwriting, cash flow forecasting, portfolio monitoring, small business credit cards, and many more. Malhotra brings more than two decades of management experience and leadership to Railz. As a fintech and mobile technology pioneer, he has founded and grown multiple companies across global markets with a broad enterprise customer base spanning banks, commerce, retail, and payments. He recently served as COO and Co-Founder of Omnyway Inc., a contextual commerce platform. Malhotra pioneered the concept of no code online to offline payment acceptance at physical retail, paving the way for rapid expansion of alternate tender adoption in the US and creating products like Kohl's Pay and VISX. Before that, he was Co-Founder and COO of DeviceFidelity, one of the first companies to commercialize mobile successfully and NFC payments globally, laying the groundwork for architectures deployed in popular mobile wallets. While at DeviceFidelity, he also launched the award-winning "moneto," which pioneered the concept of a neobank with a single app that combined mobile banking, payments, transfers, and offers. Previously, Malhotra served in executive positions at Venturi Wireless, Superconductor Technologies, and Lucent Technologies (Bell Labs). "Amitaabh is a seasoned executive and brings deep experience in innovative financial technology," said Sohaib Zahid, Railz Co-Founder, and CEO. "I am confident that we will successfully scale our operations and pursue our path to accelerated revenue growth under his leadership." "I strongly believe that the future of finance involves frictionless user experiences, backed by data, computing, and AI," said Malhotra. "I'm thrilled to join the innovative team at Railz as their COO. We are on a mission to build the largest SMB financial data network and enable banks and fintech to innovate and build the next generation of data-powered financial services. The level of interest I see in the Railz technology is unprecedented. I can't wait to see the impact of the next generation of financial products that we are powering." To learn more about how Railz is transforming financial services for small businesses, visit www.railz.ai. About Railz Railz provides real-time connectivity with popular accounting software providers, including Quickbooks, Sage, Netsuite, and Xero, making it easy for financial institutions to access and analyze their small business customers' accounting, banking, tax, and commerce data, enabling quick, informed decisions on lending and other financial services. Headquartered in Toronto, Railz was founded in 2020 and is privately owned. For more information, visit www.railz.ai. Media Contact
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