Umpqua Bankʼs Growth Story Through FX Modernization
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Umpqua Bank, a multi-state financial institution that combines the principles of community banking with modern digital capabilities, found itself outgrowing its own technology capabilities and infrastructure.
As the Umpquaʼs customersʼ needs evolved around speed and transparency, specifically in international transactions, they quickly recognized a need to modernize their infrastructure. Beginning with its customer-first approach, Umpqua Bank set out to find a trusted partner to modernize its systems to better align with the growing demands of its customers, reinforcing its commitment to innovation and service excellence. And Cue Finzly!
Challenges of Scaling Traditional FX Systems
- Existing FX infrastructure was becoming outdated as business demands increased.
- Supported both front- and back-office functions but lacked scalability.
- Included a basic customer portal, but it was limited in functionality.
- System began to show signs of strain with growing FX operations.
- Lacked critical capabilities needed for efficient expansion and modernization.
Key Requirements for Transformation
- Identify a strategic technology partner aligned with long-term vision.
- Replace legacy infrastructure to meet evolving global financial demands.
- Implement a next-generation FX and international payments platform.
- Ensure the solution is reliable, scalable, and future-ready.
- Streamline operational workflows and improve service delivery.
- Support the bank’s long-term growth and international expansion goals.
The solution: Finzlyʼs FX STAR
Key Wins for the bank
- > 20% YoY growth
Revenue momentum - 50% less manual work
Operational efficiency - Customer and banker-centric UI/UX
User satisfaction - Versatile and scalable framework
Future readiness
Transforming FX operations with Finzly FX STAR
Finzlyʼs FX STAR platform helped Umpqua Bank modernize and simplify its foreign exchange and cross-border payment operations. By eliminating manual processes and fragmented systems, the bank was able to deliver a faster, more transparent experience to its customers. FX STARʼs cloud-native, API-first design allowed Umpqua to integrate seamlessly with existing systems, automate key workflows like trade execution and regulatory reporting, and offer real-time self-service tools through a secure client portal. The result is a scalable FX solution that enhances efficiency, mitigates risk, and positions the bank to confidently expand its global payment capabilities.
FX STAR was implemented with minimal disruption, enabling a swift and efficient transition. The migration of critical components—including nostro balances, general ledger entries, and accounting data—was handled smoothly, without downtime or technical faults.
Umpqua Bank and Finzly established a structured and collaborative support framework to ensure continued operational success. This ongoing collaboration extends beyond technical support, fostering a strategic relationship focused on long-term scalability and operational efficiency.
