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Introduction to Rutter's Universal Commerce API

Watch our first ever Rutter webinar with Prathik Naidu from our Product team. Prathik gave a breakdown of Rutter’s various Commerce APIs, explained how customers use us to improve their underwriting, and showcased some of our new releases and upcoming features as well. Prathik also gave a demo of the Rutter platform and answered questions from our audience.

Transcript:

Hi everyone, and welcome to our introduction to Rutter's Universal Commerce API webinar. Just a few housekeeping notes. This webinar is being recorded and we will send you the recording after. There will be a Q and A at the end, so make sure to use the Q and A feature in the Zoom. And lastly, please fill out the survey that will be posted in the chat at the end with that Prathik take it away.

Awesome. Thank you so much, Hannah. I'm really excited to share a little bit more about Rutter, what we do, who we are as a business, and some of the amazing customers that we work with. So maybe just to kick things off, Rutter's mission is to empower businesses with new commerce experiences. We really get excited, and our team really gets excited overall about working with some amazing customers to help them build brand new experiences that typically weren't possible before, ranging from financing, embedded checkouts, shipping and fulfillment, marketing and personalization being kind of this data infrastructure company for commerce, we really have the opportunity to help our customers build out some really awesome and new products for the businesses that they're ultimately serving.

So if you look at our products, we're really building this universal API for commerce and accounting. And it's really kind of broken up into two areas. The first is Rutter link, which is our white labeled merchant onboarding flow that makes it super easy for merchants to actually connect with your product. And the second is Rutter Data Sync, which is a fast and reliable platform that makes it easy to read and write data across any platform, accounting system, commerce platform, and so on. So I'll dive deeper into both of these and really share a little bit more about what our product does, why we're different, and also give a quick demo as well of how it actually works.

So diving deeper into our universal API, what does that really mean? So at Rutter, what we've done is abstracted away the complexity of building and maintaining integrations into all of these different platforms across ecommerce systems, marketplaces, payment processors, and accounting systems into one single integration that gets you access to read and write data across all of them. So rather than your engineering team building out all of these integrations in house, maintaining them, making sure the quality of that data is correct, and normalizing that data into one consistent schema so you can build your products. What we've done is taking that complexity away from you. You can just integrate with Rutter through one API, makes it incredibly easy to actually scale your product and build out the experiences that you're trying to create.

Diving a little bit deeper what's cool and unique about Rutter is that we've unified a schema across all these platforms, which is the power of actually building this universal API. So each of these platforms, whether it's Shopify or Amazon or Stripe or QuickBooks, they all have very different data architectures and schemas, making it really tricky to actually parse their own APIs, understand what data you might need, and consolidate it into a format that you can store into your databases, and power your workflows. So at Rutter, we've made this unified schema across all of these different platforms, 25 plus and rapidly growing with a consistent data model across all of the data points that we provide today, including orders, transactions, payouts, products, and many more on the roadmap. So as an example on the right, you can see an example of our orders endpoint. You can see it's a consistent endpoint and structure. So across Amazon and Shopify, this would look exactly the same. What's amazing about Rutter is that we can actually expose rich information about a business that typically isn't possible when you actually connect with, for example, a bank account data.

So you can see here, with orders, we're actually able to process transactions, get the associated payouts, see the links products associated with that order, as well as the customer details in that. So you can think of Rutter as being able to not just pull data and write data back into the systems, but really help you create this knowledge graph of information and relationships across multiple different data sources to power any of your workflows across industries.

As I mentioned, Rutter is horizontal. We support a number of use cases. Financing is one of the biggest areas that we love working with customers on because there's so many different applications and it aligns with our mission to actually help businesses grow by getting them the capital they need to thrive. So as an example, we work with a ton of different customers across these cases, like business lending, embedded lending invoice factoring credit card companies, and so many more just within financing. And what's amazing is that all of these different partners that we have are able to use Rutter to actually get data about these businesses and really efficiently make a decision within hours about whether or not to give capital to that business so they can actually invest it back into their company and ultimately grow. And that's exactly what we're here for as well. It's to really empower those businesses by unlocking the data that they have across any of these different platforms and working with our customers to enable them to actually get this data very efficiently and reliably and very high quality without having to invest a ton of engineering resources into building it out.

These integrations themselves.

Cool. So with that, I'll give a really quick demo of what it works under the hood and how we actually are able to support our customers.

So here's an example of Rutterlink you can see here. It's super simple to actually integrate the flow. It's really just a few lines of code here. All I'm doing is just injecting some JavaScript into a function that's integrated with a button. And you can see here, I'm able to connect with Rutter.

And imagine this is completely white labeled. But lending companies using this to actually connect data. And I can actually search for a ton of different stores and platforms here. We support accounting systems, payment processors, marketplaces, and so on. Imagine if I'm using Shopify and I can pass in any store here. Cool. So this is the pop up right here.

So actually, let me go through that real quick. Again, a few lines of code we can connect with Rutter. Again, very white labeled Flow. This is all completely customizable.

You can connect with Shopify. So this is kind of the flow here where we're really able to actually get this information about a business. In this case, this is what a merchant would actually see in order to understand the data about a customer and actually make that initial connection. So here what I can do is actually connect with a store by typing in letter QA test. Actually, QA Store is kind of the store that will be using today and connect with Shopify. And just like that, authentication is complete. So that's the merchant flow for writer link.

Super simple, very seamless, and very easy for merchants to actually onboard. We're optimizing this flow as much as possible to make it easy to convert these customers for your use cases. So now once you actually have made this connection, what we can do is show you how to actually make API requests. This is an example in postman. You can see here, I've passed in an access token in our Sandbox environment. I'll submit this request and right away we're able to pull a ton of different information about this business. A lot of historic information.

I think this is about a year's worth of orders information across a bunch of different products and transactions that are actually going through this. We can do this across a bunch of different endpoints as well. So, for example, transactions get a lot of different rich data about this business.

You can see right here a lot of different insights. And what I'll do is actually show you an example where I'm pulling right now from Shopify. This is our dashboard. I'll copy and access token in here, changes back to orders. This is a completely different store, and this is a core value prop butter. The schema looks the exact same, right? So no matter what platform you're on, you're still able to pull a lot of this rich information about this business. And it still looks the same, making it super easy for your engineers to actually ingest this information and write this information back into these systems to power your workflows.

Cool.

That's a quick demo of Rutter. And the product now would love to kind of dive deeper a little bit into why we're different and how we actually support these real customer use cases. Cool. So how we're different Rutter is focused on really one primary area, which is data infrastructure. And developer experience.

So for us, the name of the game is really emphasizing our reliability and data fetch speeds as core parts of our infrastructure, as well as the developer experience in actually using our APIs. That's core to us. Our customers are engineers and technology companies that are really looking to power these really fast underwriting experience or build new products. And of course, what's important there is reliability and the infrastructure that can actually power that our customers rely on Rutter to actually power a lot of their workflows. So it's important for us to be investing a lot of time into ensuring that our systems are reliable. We're able to fetch data as quickly as possible and show that the developer experience around using that API is very consistent. So an example of some of the projects that we've been working on, we support real time data updates with Webhooks so that anytime changes are made, new orders or new transactions, we'll send that information back to you.

That's something that's typically difficult to do with a lot of these existing platforms that are out there today and also even the little things that matter to us. Right. So clean and understandable error handling. Our developers work with Rutter and so whenever there are errors that happen, we want to make sure that their experience is smooth and very high. Touch and error handling is a core part of that, which we invest a lot of time into. Now, outside of that, on a more operations level, when we work with new customers, we want to make sure that they can actually start to integrate into these platforms as quickly as possible. What's unique about Rutter is that we put a very high touch experience to actually help you on board onto these different platforms.

It's very one to one. We work with our engineers and your engineers to make sure that you're integrating in the most smooth way possible so you can get up and running as quickly as you can.

The impacts that Rutter provides is quite immense, and it really does this across multiple different teams within the company. So what we found from working with a ton of different customers is that for product teams, they're able to ship multiple integrations in days rather than months, so they can focus on what they're good at, which is actually core product, as opposed to building out all these different integrations and ultimately improve the user experience for the customers that they work with. This is a combination of Rutter Link, which is our white labeled authentication flow, which you don't have to build out in house, which is something that we provide, but also the fact that we provide one stop shop for accessing all of these different integrations. And this, of course, directly impacts engineers because now they can work on the actual interesting work that matters for your business rather than building and maintaining a lot of these integrations, which is something that is the bread and butter for Rutter and that's what we think about day and night. Now, obviously, the impact extends more broadly than just product engineering for the business overall. Because we unlock so many of these new integrations, we can actually help your business go to market faster across either new geographies with different regional specific platforms, or even access new markets as well with new types of customers and new experiences that you're actually creating for those customers. Now, I'll dive deeper into specific case studies, but importantly here, Rutter just doesn't serve developers and the impacts that it has for engineers.

It really is widespread across the company, and it's a core part of a lot of the customers that we work with in terms of the workflows and the products that they're building.

I mentioned is we love working with some of our amazing partners, some of the logos you can see here. I think what's exciting for us as well is that all of these companies have one core mission in mind, which is to build the best possible product experience for their businesses. And they used Rutter to enable their engineering team to move even faster by scaling the number of integrations and even providing a better experience for their customers by focusing more on the core product that they have and not on the data fetching, data syncing, and the overall data experience for their products, which is something that Rutter obviously provides as part of our core infrastructure. Again, Rutter's focus is really on the infrastructure and developer experience. We've partnered with amazing customers to enable them to spend less time on engineering for these integrations and more time actually analyzing the data that they can get to ultimately power really incredible systems for their customers.

Yeah. And just to dive deeper into one particular case study, we work with an amazing customer called Uncapped. Uncapped is actually one of the second largest and fastest growing fintechs in Europe, and their mission is to empower businesses with fast and fair capital. Uncapped is an incredibly mission driven company. They work with amazing businesses, and their goal is to really provide them with capital to help those businesses grow. One of the big goals for Uncapped was to create a less manual and more automated data driven underwriting workflow. Typically, a lot of underwriting workflows involve a lot of paperwork, manual submissions from the merchants.

What they see is a lot of drop off in that submission process. And so in a more automated and data driven approach to actually onboard those merchants, process the data that they're actually getting about those merchants and various customers, and then ultimately give them a decision about terms for a loan. And doing it as fast as possible is incredibly important to actually improving the business for Uncapped, but also improving, more importantly, the experience for those businesses that they're trying to serve. So Uncapped had this core problem. Building integrations absolutely sucks before the team was spending about a year working on just building, like two integrations in house. But they had this huge roadmap and plans to support Amazon, WooCommerce, Magento, tons of other platforms outside of those two that they built. This is a core problem.

The team spent such a long time building just two integration, they needed to unlock more of these platforms so they could actually address more businesses and ultimately get closer to achieving their mission of providing fast and fair capital to businesses. Rutter came in and really focused on being that core data infrastructure provider to fetch the data that Uncapped needs. And so with Rutter we're able to have this one stop shop to expand not just their existing integrations, but many more as well that are on Uncapped product roadmap. And this data is not just used for that initial loan offer because this is real time information that's coming, and because Uncapped has this running data about a business, both historical as well as future information. Over time, Uncapped now unlock a really interesting set of products around continuous financing. They've built up this relationship with this business and can now offer not just one loan, but multiple others as well because they continuously get new information to help underwrite that business. And so the impact is immense.

We're able to help Uncapped expand coverage, more businesses signing up, and ultimately lowering the engineering costs that come with actually building innovations.

One incredible quote from Rudy at Uncapped, who is the head of engineering.

We love Rudy and the team at Uncapped, and they work with many providers that really just weren't reliable. And I think this is a core focus for Rutter is basically being able to be that core data infrastructure that's reliable and that delivers on high quality data consistently. Over the course of our relationship, again, we focus all of our resources on just being the best developer and data infrastructure provider. We recognize the importance of that and how deeply we're integrated with our customers. We want to make sure that we can build that trust with our customers like Uncapped, and ensure that we're delivering on the best possible experience to get them the data that they need as quickly as possible.

So now just to chat a little bit more about where Rutter is headed going forward. Again, one of the big themes that we've chatted about in this webinar is the importance of data infrastructure and developer experience. We're continuing to invest in more of our products and build the best in class data products across both financing and new use cases that we've come across over the past year. And we're investing a lot into not just data infrastructure internally in terms of our systems and our data fetch products, but also externally as well. For our customers, this includes improving reliability even more than we have today, making sure that we're fetching data at high quality, expanding the scope of the data that we're getting from our existing platforms and actually ensuring that our customers are getting a very consistent experience across the board, no matter what platform that they're on. That's the name of the game in this business. And for us, Rutter is completely invested and dedicated to working with our developers and our community to really grow this ecosystem and ensure that data is reliable and coming in reliably and high quality.

We're also investing a ton into new products. Look out for some more information on that as we launch a lot of them over the course of this year. Super excited for our incredible roadmap. It's pretty insane. And we're moving fast. We have a ton of new products on the roadmap within financing, beyond financing as well. Again, Rutter is a horizontal company.

We service a lot of different use cases, financing being the core one that we're going after today. When we think about new products at Rutter, it really falls again under the steam of developer experience, data infrastructure building the best in class product that we can to ultimately help businesses grow and deliver for our customers the data products that they need to actually empower the customers that they have. That's core part of our mission and where we want to go down the road.

All right. Well, with that wanted to open it up for a bit of Q and A, and we have a little bit of time left in the webinar. Happy to answer any questions that anyone has. Okay. Critique. I'm seeing a few come in. First one is, what types of data can you pull from the ecommerce platforms? So from ecommerce platforms in particular, we can pull a variety of different types of data.

We're continuously expanding the depth of data that we can provide, as well as the breadth of platforms we provide. So with the ones that we have today, a lot of this is orders, transactions, payouts products, customers, the actual store details. Those are like the core endpoints that we have today. All of that is on our public documentation. So this is super exciting because it's not just the individual pieces of data that we're pulling. All of that is actually tied together. And I sort of touched on this in one of the earlier slides.

Actually, let me quickly go to that. We have this unified scheme, but all this information, you can think of it as a graph. It's actually related to one another. There's transactions associated with orders. The products are associated with orders. There's also customers that are purchasing those products. All of this is related.

And so we don't just stop at pulling raw data. We can actually develop these really interesting relationships across all of these different endpoints. And that's just for ecommerce. Even in accounting, we can pull a lot of interesting information. Accounting systems are the system of record for commerce. And so whether it's financial statements, income balance sheets, cash flow statements and so on, as well as Journal entries, line item pieces of information, account categories, and so on. We were able to pull that rich data about a business as well, even from accounting.

The next question I have is, how is your inference set up for scale? This is something that's super top of mind for us. We invest a ton of resources on our infrastructure side. We have an incredibly large infrastructure engineering team that's continuously improving both not just the stability of our infrastructure, which ultimately impacts uptime and reliability, but also data fetch speeds. Right. So one of the big challenges that a lot of our customers face when actually fetching all this different data about a business is they have to deal with rate limits. They're oftentimes like throttled by all of these different platforms. All of them have different ways of actually paginating data, which means if you're fetching a ton of different historical information over the course of maybe a year, the way that the data is actually separated into chunks or batches is very different.

And so on our side, we've actually abstracted away all that complexity. We have infrastructure set up to do this as incredibly large volumes, hundreds of thousands, if not millions of different requests that are coming in and actually pulling a lot of this data. As well as writing this data back into these systems, we ensure that we're monitoring this, handling any errors that come up, and make sure that whole system is stable. Our information base is massive, and it's continuously growing day by day. This is something that we invest in heavily to make sure that, again, we're building the best possible data infrastructure products for our customers. Great. The next question I have is, do you have a road map that you can share for the future? Yeah, not publicly right now.

I will say it's pretty incredible. The way that we kind of think about our roadmap is both in terms of some of the opportunities that we have to actually leverage the data that we're seeing to basically pull new types of insights. There's both breadth in terms of the number of platforms that we can support. We're continuously investing in that, as well as the depth in the actual endpoints and the data that we can pull. Again, another area that we're investing in. So definitely more to come over over this year. We're having some really exciting launches in the next few months or so.

Keep an eye out for that. But yeah, again, I think for us, it's really thinking about how can we continue to empower our customers to get the data that they need and have this infrastructure set up so that they can ultimately build their products tons of new ways in which we can actually explore that beyond just the current set of platforms we support across, like marketplaces, ecommerce, payment processors, and accounting. Awesome. Can you walk through an example of how this all shows up for an end merchant like, say, All Birds or Rossies. As far as I get it, they don't interact with Rutter. It's their platform, say Shopify, that interacts with Rutter to integrate with QuickBooks. Yeah.

So this is interesting. So Rutter doesn't sell to the All Birds or Rothes of the world. We don't provide a merchant product. We work with companies that are actually building experiences for those merchants to actually either sell their products across more channels to enable them to grow their businesses with new financing products. And so the way that merchants actually interact with Rutter is actually through our what we call letter link, which is that onboarding flow. And so that's how they actually sign up for maybe a new experience or a new product, maybe through their onboarding flow. And they'll basically connect their platform, whether it's Shopify, Stripe, Magento, whatever ecommerce system, or accounting system that they're using.

And then the actual customer of ours, which is like the business that's building the experiences, are able to actually drive that connection. Once that connection is created, they can start to read and write data across that platform. So as an example, with Uncapped, they use us to essentially get data about a business and ultimately provide an underwriting decision. So for the businesses that they work with, they'll actually see an uncapped onboarding flow and ability to actually connect their Shopify account or their Amazon account, and so on. Once that connection is made, Uncapped automated Underwriting system can actually pull that data, analyze that information, and ultimately deliver a loan for that customer. And of course, this kind of cross applies not just in Underwriting, but for any other experience, for example, enabling businesses or merchants to sell products across few channels. Great.

The next question I have is, what does onboarding look like? Yeah, totally. So onboarding for Butter is super seamless and something that we actually support. It's part of the reason and how we kind of set ourselves apart. So I'll actually go to that slide real quick. Yeah. So platform on boarding support is interesting. Each platform actually has its own way of making sure you're approved and actually onboarding onto that system.

Rutter has a very consistent team and process for actually ensuring that we can get you set up quickly and efficiently. And so that's a very hands on experience for all of our customers. They'll collaborate with us to make sure that they can get off the ground really quickly with some of the Rutter's applications and test stores which we provide. And then we'll walk them through that process to make sure that they can actually get approved and go through that onboarding support to make sure that they can actually start integrating with Rutter and start pulling data as quickly as possible. And so this is a very speedy process. We work with all of our customers to make sure that it's very seamless and get them up and running as quickly as possible. Yeah, awesome.

And I know you touched upon this in the demo, but how easy is it to set up? Yeah, it's super easy. And this is what I love about Rutter. There's a lot of complexity under the hood in terms of of course, as you see here, like data reliability, data fetch speeds, and actually integrating with web hooks. On the developer side, our customers, there are really two steps. The first is just a few lines of code to actually integrate that white labeled merchant authentication flow, that's Rutter link, and then once they actually do that, a merchant will actually get a connection. And then it's just a quick rest API request to either get data or post data into these systems. And so, again, that's just a really quick integration.

We provide a really easy to use sandbox environment, so it makes it easy to actually test out what it's like to actually use router API and integrate into your system. And then it's just a matter of switching sandbox to production and you're good to go. Okay, here's another one. How do you prioritize which platforms Shopify, WooCommerce, et cetera? You spend the most time building out the API for great question. So we actually focused on a lot of the core platforms a lot of our customers have requested and need to actually grow their business. Those are the ones that we support today. We're consistently growing the number of platforms both geographically as well as across a lot of the customer requests that we see.

In terms of prioritization, it really comes down to our customers request as well as where we're seeing market opportunity in. And so this is really driven by customers how they're actually using the product, what our developers need, and what are some of the experiences that they're actually trying to create at Rutter. It's not just about delivering a new integration or just a couple of set of endpoints and having developers go run with it. We want to be very hands on with the companies that we work with and ensure that we understand what they're trying to accomplish, align on the exact requirements, the type of data that they need, the platform support, whether it's most immediately or even down the road as well. And once we align on that, a lot of our roadmap is driven by figuring out how we can actually deliver on those requests and making sure that our customers are satisfied as they grow their product to new markets, to new types of businesses. So hopefully that answers your question. No specific formula or plan for us.

It's really just about getting to know our customers where the products are actually going and what the market actually looks like. All right. That is all the questions I am seeing for today. Thanks, everybody, for joining, and we hope to see you at the next one. Thank you so much for taking the time today, Prathik. Of course. Thanks, everyone.

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