Objectives

Offer modern FX solution to enterprise customers due to:

 

  • Outdated FX platform limited growth of treasury management services
  • Opportunity loss in acquiring new customers due to the obsolete platform
  • Poor customer retention caused by an inefficient, counterintuitive interface

Solution

  • The bank implemented Finzly’s FX STAR platform — a modern, cloud-native solution designed with an API-first approach
  • FX STAR features a user-friendly web portal that offers self-service capabilities to manage multi-currency accounts, initiate payments, and administer internal users with customizable permissions and limits
  • The platform streamlines core functions, including pricing, trading, risk management, settlement processing, confirmations, matching, accounting, compliance, reporting, and nostro reconciliation
  • Seamless integration with the bank's core system and third-party systems
  • The bank has brought Trade Finance under the same roof using Finzly’s EXIM STAR

Outcome

  • Improved customer experience: The user-friendly interface and self-service features significantly increased customer satisfaction
  • Operational efficiency: Automated and streamlined FX processes, from risk management to compliance, led to reduced manual intervention and faster execution
  • Growth enablement: The new platform empowered the bank to scale its treasury management services and offer competitive FX & Trade Finance solutions, attracting new customers and increasing market share
     

100%

YoY customer growth

400%

YoY sales growth due to FX services on the new platform

0
ACH
1
Fedwire
2
FedNow
3
RTP
4
Cross Border Payments
5
Payment Hub
6
ISO 20022
7
Deposits
8
Virtual Ledger
9
Multi-Currency Accounts
10
Open APIs for Embedded Banking
11
Business Banking
12
Consumer Banking
13
Teller Banking
14
Foreign Exchange
15
Trade Finance