Regional bank achieves 180% CAGR with Finzly’s FX, expands to instant payments
Finzly’s modern payment infrastructure enables the bank to offer a seamless banking experience to their customers.
Objectives
Legacy core limitations hindered growth for this commercially focused 100-year bank resulting in:
- High maintenance costs & tech debt from siloed & redundant systems
- Slower time-to-market & missed business opportunities due to core rigidity
- Lack of APIs demanding complex integrations
Solution
The bank chose Finzly’s central payment hub to handle both domestic and international payments for their commercial clients. By adopting a modular approach, they successfully launched ACH and Fedwire, with the added flexibility to introduce FedNow and RTP gradually. Finzly's rail-agnostic CashOS payment experiences replaces the current fragmented CX.
Outcome
Finzly’s modern payment infrastructure enables the bank to offer a seamless banking experience to their customers. Results include:
- Cost reduction due to elimination of redundant systems
- Improved straight through processing and reduced settlement time
- Readiness for vertical offerings to commercial customers
- Accelerated time to market in 6 months
