EverBank Consolidates and Automates Payment Operations Using Finzly's Payment Hub
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Problem
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Consumer focused bank, reliant on affiliate interest bearing deposits
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Strategy to move upmarket with a national footprint through a Business focus
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Fragmented process and platforms, using dated and extensive custom platforms
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Simplify!
Solution
Focus on Business deposit acquisition through several strategic steps
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Onboarding of Finzly payment hub to meet commercial ACH, wire, International Wire payment needs
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Allows for launch of new products and Finzly partnership ensures technology forward approach to payment innovation; RTP, FedNow, etc.
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Automated approach to meet specific business line requirements
Focus on automation to drive straight through processing and expense controls
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Finzly Teller for manual wires
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Improved/automated fraud integration to reduce manual handling
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Improved handling with all-in-one Payment Galaxy
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Centralized queue-based workspace
Focus on Technology
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API centric architecture
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Centralize all payment activities through a HUB
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Adopt new more modern technologies
How is it going
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2024 outlook for first Finzly transactions with a full 2025 bank integration
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Finzly knowledge of common core systems
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We are doing a lot with Finzly as the hub
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Goal of greatly increasing STP, adding 1-1.5 hours to wire deadline, adding ACH windows; all in plan
Results
- Up to 100%
- Straight-through processing
- 80%
- Decrease in implementation time
