Introducing Smart Banking: Rutter's Multi-Provider Solution for Reliable Banking Integrations

The Banking Integration Challenge

In today's fintech landscape, reliable banking data is mission-critical. Whether you're building an AR automation platform, a lending solution, or a financial management tool, your customers expect seamless connections to their banking institutions within your product.

But there's a problem that nearly every fintech faces: banking connections are notoriously unreliable.

Connections frequently break during critical operations, and regional banks aren't supported by mainstream providers. While different aggregators excel with different institutions, managing multiple providers internally is too resource-intensive for most companies to manage.

These challenges directly impact your product experience, customer satisfaction, and ultimately, your bottom line.

After countless conversations with customers struggling with broken connections and limited coverage from single-provider solutions, we recognized the need for a fundamentally different approach. Today, we’re excited to announce the launch of Rutter's Smart Banking.

What is Smart Banking?

Smart Banking is Rutter's intelligent routing solution that automatically connects your customers with the best banking provider for their specific institution—all through our unified API.

Instead of choosing a single provider for all your banking data or managing multiple integrations yourself, Smart Banking makes the optimal choice for each connection based on real-world reliability data.

Here's how it works:

1. Your customer searches for their bank through our customizable interface.
2. Based on our proprietary data, we automatically select the most reliable provider for that specific bank.
3. Your customer seamlessly connects through that provider.
4. Their banking data becomes accessible through Rutter’s unified API, ensuring a normalized experience regardless of the underlying provider.
5. Data stays up-to-date with our real-time webhooks and configurable Data Sync functionality.

With support for three industry-leading aggregators and more on the way, Smart Banking delivers the reliability and coverage that top-tier fintechs demand.

The Smart Banking Difference

We built Smart Banking to address challenges we've heard directly from our customers.

Improved Reliability

Different aggregators have different strengths. Plaid excels with certain larger institutions, while MX has best-in-class support for community banks. Smart Banking leverages these strengths by routing connections through the most reliable provider for each bank. Based on a comprehensive and continually evolving dataset of connection success rates, our algorithm is constantly self-improving to ensure that you always get the best possible provider for your needs.

"Our current aggregator hasn't been as reliable as we need... we’ve found instances where it linked to entirely the wrong login page." - Lead Engineer, corporate card and spend management platform

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Expanded Coverage

No single provider has comprehensive coverage of all banking institutions. By supporting multiple providers, Smart Banking gives your customers access to over 7,000 more banks and credit unions than a single aggregator alone. Instead of settling for just major national banks, support all of your customers by offering access to an expanded set of regional banks, credit unions, and international financial institutions.

"We're attracted to the idea of having multiple aggregators available... many customers using regional banks like Zion Bank that aren't supported by [every aggregator]." - VP Operations, SMB financial management platform

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Unified Integration

Managing multiple banking integrations yourself is extremely painful. Rutter’s unified API provides a single API for banking data from any of our supported providers, unified webhooks for real-time updates, and connection lifecycle management through our established platform.

“We don’t want to have to become experts in four different aggregator systems. I want my engineers spending their time on differentiated work.” - CTO, AR automation platform

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Real-World Impact

Smart Banking brings a host of benefits:

• 15% reduction in disconnection rates compared to single-provider solutions
• 28% increase in successful API calls through optimized provider selection
• 7,000+ additional institutions via additional providers

Best of all, our unified API is quick and easy to get started with. Our comprehensive documentation makes implementation straightforward, typically requiring less than a day of engineering time. Your customers will experience the difference of Smart Banking in no time at all.

How Smart Banking Fits Into Rutter's Vision

At Rutter, we're building the financial operating system for modern businesses. Smart Banking is a critical component of our vision to provide the infrastructure powering a generation of reliable, connected fintech products.

By combining banking data with our existing integrations across accounting, commerce, and payments, Smart Banking enhances your ability to build comprehensive financial workflows:

• AR Automation: Match incoming payments with invoices through reliable transaction data, ensuring all customer payments are captured and reconciled with confidence.
• Financial Management: Support SMBs using local credit unions with stable connections, regardless of their banking provider. No more frustrating disconnections during critical financial operations.
• Lending & Underwriting: Access consistent transaction history across a broader range of institutions, improving underwriting accuracy and reducing risk in your lending decisions.
• Cash Forecasting: Deliver precise predictions with higher connection success rates and real-time webhooks providing the timely data your customers need.

This integration capability creates a powerful foundation for delivering more value to your customers while reducing the engineering resources required to maintain reliable connections.

Join the Financial OS Revolution

The future of fintech belongs to platforms that can provide reliable, comprehensive financial data integration. With Smart Banking, you're not just solving today's connection challenges—you're positioning your product for long-term success in the evolving financial ecosystem.

Ready to get started? Schedule a demo today.