Customer Stories

Payment Infrastructure for New Digital Bank

Problem

Our client, an SMB-focused bank, grapples with an outdated, batch-based tech stack that falls short of meeting the needs of its business customers. Hindered by obsolete systems and the absence of APIs, the bank finds itself unable to offer a robust digital experience or fulfill the unique payment requirements of its SMB clientele.

Solution

The bank decided to implement Finxact's real-time digital core and selected Finzly's payment rails for ACH and Fedwire through Finzly’s unified, real-time payment processing engine. With the freedom to incorporate instant payment rails incrementally, the bank can introduce new offerings to customers at its preferred transformation pace.

Payment rails

  • ACH

  • Fedwire

Teller banking experience

  • Teller App

Integrations

  • Open API: Finzly Connect

  • Business Banking: FIS Business eBanking

  • Core: Finxact

  • OFAC: Alloy

With the freedom to incorporate instant payment rails incrementally, the bank can introduce new offerings to customers at its preferred transformation pace.

Outcome

Separating payment processing from the core banking system provides flexibility in seamlessly integrating with third-party systems. Finzly’s customizable workflows help the bank tailor payment processes according to its business rules rather than being constrained by “one size fits all systems”. The bank can stay ahead of the curve with best of breed systems and attract customers who value advanced payment options with Finzly’s futureproof product roadmap.

Key Info

80%
Reduction in go-to-market time
100%
Real-time backend infrastructure