$50B regional bank centralizes payments, FX, trade finance with Finzly
Objectives
- Needed a modern, scalable platform to manage FX transactions and address market risk
- Required enhanced customer experience and operational efficiency
- Sought to eliminate manual intervention and trading processes
- Wanted to offer instant payments, but their legacy core couldn’t support the demands of real-time payment processing
Solution
- Launched Finzly’s cloud-based, state-of-the-art FX platform, FX STAR, in just three months. The platform autonomously managed market risk, eliminating the need for manual intervention or traders
- Integrated with Finzly’s payment platform, Payment Galaxy, to enable instant payments through FedNow and RTP, bypassing the limitations of their legacy core
Outcome
- Centralized Trade Finance, FX, and Payments under one platform
- Attracted more business customers by providing a seamless transaction banking experience
- Positioned for future growth with Finzly’s advanced, scalable infrastructure supporting both FX and payments.
180%
achieved CAGR over six years
60%
quicker go to market for instant payments because of prior integration to core
