Payment Infrastructure for New Digital Bank
Problem
The tech-savvy bank sought to improve backend efficiency by consolidating payment operations through a payment services hub. Their disjointed legacy systems resulted in maintenance overhead and middleware costs, impeding communication with core and digital platforms. Focused on delivering exceptional customer experiences and seizing Banking-as-a-Service opportunities, the bank aimed to streamline back-office operations for improved flexibility, scalability, and cost-effectiveness.
Solution
The bank chose Finzly's platform to modernize all its rails, branch UX and simplify its payments operations and expand its embedded finance capabilities. Finzly’s payment processing happens in a real-time environment, integrating with their FIS core, fraud, account analysis and AML systems, helping the bank deliver seamless payment experiences.
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ACH
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Fedwire
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FedNow
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RTP
Teller banking experience
Open API
Integrations
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Core: FIS
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OFAC: Accuity
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Fraud: Verafin
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AML: FIS Prime
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Account analysis: FIS XAA
Outcome
By choosing a single vendor for all payment requirements, the bank has streamlined its transformation journey. This decision simplifies integrations, removes redundant systems, and expedites time-to-market, facilitated by Finzly's prewired, and certified connections to the Fed and The Clearing House. Through automated payment processes, the bank can deliver the best payment experience to both its customers and fintech partners.
