Charlotte, North Carolina, September 11 2023:

Finzly has been honored with the prestigious title of "Best PaaS Provider of the Year (Payments)" by The Digital Banker at the 2023 Global BankTech Awards. In a highly competitive category, Finzly's payment solution, offering a unified API for all payment rails through a payment hub and a single payment rail-agnostic user experience, was acknowledged for its pivotal role in revolutionizing banks' payment infrastructure across several banks in the US. The Global BankTech awards recognize leading vendors and solution providers who are pushing the boundaries of technology, setting new benchmarks in digital transformation at financial institutions.

This accolade spotlights Finzly's SaaS offering for financial institutions, delivering a managed payment infrastructure operating in real-time. Several financial institutions have grappled with legacy batch-based solutions for processing payments, making it challenging to adopt and support the latest payment innovations. Finzly's core-independent, real-time payment processing platform empowers banks in their transformation journey, offering seamless real-time operations to process all their payments without the complexity of middleware and legacy systems.

 

Booshan Rengachari, Founder and CEO of Finzly, expressed his gratitude for the award, recognizing the engineering efforts that have helped numerous banks consolidate their fragmented payment silos into a simplified, centralized platform. He emphasized the importance of continually reimagining payments and providing banks with the best infrastructure to confidently compete and collaborate in the evolving ecosystem.

Finzly's Payments as a Service solution is gaining traction among banks looking to serve both traditional customers and business clients while embracing the embedded finance ecosystem. With pre-tested and certified connections to all payment networks and the capability to stay up to date with the latest standards like ISO 20022 and other payment innovations, the platform not only expedites implementation but also reduces maintenance costs, enabling banks to stay at the forefront of the industry. By offering a unified API for all payment rails, including ACH, Fedwire, RTP, FedNow, Swift, and FX, banks can seize revenue opportunities in the embedded finance landscape. Metropolitan Commercial Bank's recent adoption of Finzly's unified payment hub exemplifies how the solution empowers banks to provide cutting-edge payment experiences to commercial clients while meeting the requirements of platforms seeking a unified API for payment processing.

 

Earlier this year, Finzly made waves by being the first to introduce APIs for the FedNow service, assisting financial institutions in swiftly launching the service and facilitating instant payments.

Source: EIN Presswire