Customer Stories

EverBank Consolidates and Automates Payment Operations Using Finzly's Payment Hub

Problem

  • Consumer focused bank, reliant on affiliate interest bearing deposits

  • Strategy to move upmarket with a national footprint through a Business focus 

  • Fragmented process and platforms, using dated and extensive custom platforms

  • Simplify!

Solution

Focus on Business deposit acquisition through several strategic steps

  • Onboarding of Finzly payment hub to meet commercial ACH, wire, International Wire payment needs

  • Allows for launch of new products and Finzly partnership ensures technology forward approach to payment innovation; RTP, FedNow, etc.

  • Automated approach to meet specific business line requirements

Focus on automation to drive straight through processing and expense controls

  • Finzly Teller for manual wires

  • Improved/automated fraud integration to reduce manual handling

  • Improved handling with all-in-one Payment Galaxy

  • Centralized queue-based workspace

Focus on Technology

  • API centric architecture 

  • Centralize all payment activities through a HUB

  • Adopt new more modern technologies

How is it going

  • 2024 outlook for first Finzly transactions with a full 2025 bank integration

  • Finzly knowledge of common core systems

  • We are doing a lot with Finzly as the hub

  • 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
60%
Cost reduction
80%
Decrease in implementation time