Finzly’s FX solution and trade finance positions bank for back-to-back commercial banking industry awards
Objectives
- Outdated FX platform limited growth of treasury management services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
