Embedded finance experiences platform Railsr has launched Insights, a dashboard to empower brands to track, manage and enhance their customers’ embedded finance experiences.
Railsr customers can access data-driven insights across their customer base, in order to identify and understand trends and optimise the end consumer product.
According to the company, which earlier this year rebranded from Railsbank, embedded finance experiences across an entire customer portfolio involved the laborious task of collating data and navigating various APIs and databases.
Insights lets brands track customer data including account approval rates, card activation rates, the average time to first conduct a transaction, the average transaction amount, average balances, where transactions are made, and total spending. By selecting specific display filters such as time frames, businesses can also track their progress against KPIs, and identify areas for improvement.
Stuart Gregory, chief operating officer of Railsr, commented: “Businesses that process transactions naturally harvest unquantifiable amounts of data on their customers and spending habits, but that data has previously been hard to uncover.
“But used alongside Railsr’s other turnkey solutions, Insights can unlock the power of that data, help brands fine-tune those experiences, and engage with new and existing customers. More insight puts businesses in the driving seat, and allows them to manage and improve their own financial service offerings. ”
Insights comes as standard to new Railsr customers and is immediately available to both Cards-as-a-Service and Credit-Card-as-a-Service (CCaaS). Railsr will also be rolling out IaaS across its Banking-as-a-Service (BaaS) products in the next quarter.
Last week, Railsr partnered with financial crime prevention firm Featurespace to protect Railsr customers and their consumers from the growing threat of fraud and financial crime.