Commercial Bank Modernizes Payment Processing Without Disrupting Their Legacy Core

Client

A large commercial bank in Texas with a history of complementing the traditional commercial banking model with fintech partnerships.

Challenge

The bank’s legacy payment processing didn’t allow them to cater to the expectations of their commercial customers. As a result, they required a partner at the forefront of payments innovation to help them embark on an end-to-end transformation for payments.

Solution

The bank enhanced customer experience and unified payment processing for Fedwire and ACH leveraging our integrations with their existing core. By unifying payment processing, the bank was able to boost operational efficiency and increase their agility to launch value-added services, improving customer experience. 

Outcome

By working with Finzly to centralize payment processing for Fedwire and ACH, the bank has achieved several benefits from streamlining operations, unifying all payments and exceptions, and ultimately growing its business. Additionally, automated workflows have increased the bank's straight-through processing rates. These efficiencies have allowed the bank to expand its commerical offerings to sectors like real estate, specialty banking for HOAs, dental practices, and other SMBs. The bank is now well-positioned to confidently explore new revenue streams and expand into new customer segments.