Instant payment integration into ERP at $32B regional bank
Centralized payment processing for all rails
Objectives
- Modernize payment operations to meet evolving market demands
- Streamline manual processes and improve straight-through processing (STP)
- Centralize all payment types onto a single platform for better efficiency and scalability
- Enable advanced FX capabilities and support future innovations like real-time and embedded payments
Solution
- Centralized payment hub: Integrated ACH, wire transfers, and FX processing into a single platform
- Advanced FX capabilities: Automated USD-to-FX conversions, customer disclosures, and integration with trading systems
- API-first architecture: Connected internal applications and external vendors for seamless data flow and communication
- Scalable foundation on BankOS: Built a future-ready infrastructure to support advanced payment capabilities, including real-time and embedded payments
Outcome
- Operational efficiency: Reduced manual processes and enhanced automation, saving time and lowering costs
- Improved revenue potential: Extended ACH and wire cutoff times by up to 1.5 hours, enabling better service for high-value West coast clients.
- Stronger client acquisition: Enhanced payment capabilities attracted new clients by meeting their evolving needs
- Scalability for growth: Positioned to expand into new verticals and offer advanced payment services like real-time and embedded finance
- Enhanced competitive advantage: Delivered a seamless, reliable payments experience, distinguishing EverBank in a competitive market
Finzly’s technology has transformed our payments operations, simplifying processes, and enabling us to better serve our clients.
