Customer Stories

Empowering Banking as a Service initiatives

Problem

The bank appreciated that a one-size-fits-all payment offering from legacy providers doesn't work for its varying vertical business clientele. As the bank wanted to become a BaaS leader by focusing on embedded payments to attract fintechs to their Global Payments Group, they sought to rectify inefficiencies, modernize legacy systems, & enhance international banking capabilities through a complete payment transformation.

Solution

The bank chose Finzly's platform, consolidating ACH, Fedwire & FedNow services into one cloud-based system. This streamlines processing, boosts efficiency, and seamlessly integrates with core and third-party systems, ensuring compliance and smooth data flow. The open APIs on Finzly Connect allow the bank to easily connect with the ecosystem for BaaS.

Payment rails

  • ACH

  • Fedwire

  • FedNow

Business Banking Experience

  • CashOS Commercial

Open API

  • Finzly Connect

Integrations

  • Core: Fiserv

  • Compliance, Fraud management: Verafin

  • Account analysis: Weiland

Finzly streamlines processing, boosts efficiency, and seamlessly integrates with core and third-party systems, ensuring compliance andsmooth data flow.

Outcome

The bank is attracting a broad spectrum of clientele, encompassing both traditional commercial entities and fintechs, propelled by its cutting-edge payment solutions and value-added offerings. The bank can offer Finzly's APIs to fintech partners, while also enabling the provision of bespoke payment solutions tailored to the distinct needs of its diverse business clientele.