Finzly’s centralized Payment Hub equips bank to enhance payment offerings and support future innovation initiatives.
Finzly, a fintech provider of modern banking applications for payments, foreign exchange, trade finance and digital account opening, announced today that Lead Bank has implemented Finzly’s Payment Hub to enhance the bank’s payment and digital capabilities. Payment Hub is part of Finzly’s open, cloud-based, modern banking platform, BankOS, positioning Lead Bank to support immediate and future innovation initiatives.
As part of Kansas City, Mo.-based Lead Bank’s strategic initiatives to partner with fintechs that enable the bank to overcome the challenges of existing legacy technology while also enhancing their banking infrastructure to support future innovation, Finzly stood out as an ideal technology partner to improve the bank’s payment capabilities and digital offerings. Integrating with Lead Bank’s core technology, Payment Hub empowers the bank to centralize the operation of multiple payment networks and deliver an enhanced user experience to their valuable customers.
Finzly’s recently enhanced, award-winning Payment Hub supports multiple payment networks through a single, consolidated system, including ACH, Fedwire, SWIFT and emerging complex real-time payments services like The Clearing House’s RTP® network and the Fed’s FedNow℠ service. Payment Hub is interoperable, leveraging open APIs in the cloud to centralize consumer and business payment processing, monitoring, reporting and compliance. Not only does Payment Hub streamline payment automation to free FIs from the manual processing of payments and reconciliation, but it also enables FIs to provide customers with a more seamless payment experience.
“The ability to service our fintech and corporate clients with a Banking as a Service solution, as well as communicate messages to and from the core platform, is crucial to fulfilling and facilitating the requirements of Lead Bank and our channel partners,” said Sheila Stratton, Director of Digital Strategy, Lead Bank. “Finzly’s solution provides a modern technology platform in which our bank can expand payment capabilities while tapping a flexible and innovative solution to support our bank in delivering on the specialized needs of our clients.”
“Lead Bank is leading the way in which FIs can partner with fintechs to innovate with speed and go to market faster,” said Booshan Rengachari, founder and CEO, Finzly. “Payment Hub takes the workload off of the legacy core system and gives the bank the freedom to innovate without limitations. With Payment Hub, Lead Bank can offer a seamless and more secure payment experience, while also offering fintech banking. We are pleased to partner with Lead Bank and look forward to continued collaborations to support the bank’s transformation to embrace the future.”
Finzly connects financial institutions with customers through a modern digital banking experience and an efficient, real-time payment services hub. Freeing financial institutions from core system limitations, Finzly’s open, cloud-based modern banking platform, BankOS, enables transformation and innovation at the speed of fintech. With freedom to adopt solutions from Finzly and third parties of choice, financial institutions can implement apps in three simple steps – subscribe, try and launch. Serving customers across North America, Finzly has been modernizing international banking and treasury management solutions since 2012. For more information, visit www.finzly.com.
About Lead Bank
Lead Bank is a community-minded, independent commercial bank, recognized for its innovative approach to community banking and unique banking solutions that allows real people, real businesses, and their communities to thrive. Serving communities with treasury management and lending services, consumer client products, digital consumer banking, and innovative financial technology services, Lead Bank is the first choice for those looking for a future banking partner. Headquartered in Kansas City, Missouri, yet serving clients digitally throughout the United States, Lead Bank is known for being a small business advocate, having outstanding client service, and creating financial pathways to those, who in the past, have been financially unhealthy. 2020 member of the Global Alliance for Banking on Values (GABV), an international network of banking leaders from around the world committed to advancing positive change in the banking sector. For additional information, call (816) 220.8600 or visit http://www.lead.bank/.