Finzly’s Banking as a Service solution enables Lead Bank to provide payments processing services to cater to the complex needs of fintech partners, making connected banking a reality.
Lead Bank has focused its efforts on establishing payment processing solutions to support the complex needs of fintech companies. Lead Bank‘s partnership with Finzly allows the Bank to offer sophisticated payment services for technology-focused businesses and fintech companies via APIs (Application Programming Interfaces). Because of Finzly, Lead Bank gives fintech companies the ability to access multiple customizable and secure banking services.
Finzly’s digital core and Payment Galaxy, run as a parallel core to the Bank’s legacy platforms, offer an API middleware while also replacing the legacy payment infrastructure at the Bank. Finzly’s digital core offers a real-time multi-asset ledger with FBO (For Benefit Of) and virtual account capabilities to track any assets. Finzly’s Payment Galaxy is a full-service platform with API middleware that processes all payment types (ACH, wires, RTP, FedNow & SWIFT), exceptions, and returns, with direct settlement and clearing connectivity with The Federal Reserve, The Clearing House, and SWIFT payment networks.
“Lead Bank continues to invest in technology and to offer best-in-class business payment solutions,” says Peter McVey, Director of Payments, Lead Bank. “Finzly enables Lead Bank to provide payments processing services to a wider audience of clients and lays the foundation for Real-Time Payments (RTP) and FedNow services in the future. We are excited to debut this cutting-edge API origination solution with PointChain.”
Finzly enables Lead Bank to provide payments processing services to a wider audience of clients and lays the foundation for Real-Time Payments (RTP) and FedNow services in the future.
Peter McVey, Director of Payments, Lead Bank
We are proud of this milestone where PointChain was able to develop and integrate with Lead Bank and launch rapidly. In the modern financial world, banks’ new customers are developers and fintechs, and banking will be available from any brand. The future is bright for those institutions that enable a connected banking experience with instant real-time updates. Lead Bank is leading the way in this financial transformation, and we are proud of our partnership and accomplishments together.
Murthy Balusu, CTO, Finzly
Our objective is to remain a high-tech financial service solution for high-risk industries like cannabis, and working with a technology partner like Finzly has certainly enabled us to see our vision through. This partnership will provide our clients with an experience they are more accustomed to from a traditional bank or financial service provider while keeping the speed, capabilities, and innovation of a fintech. We are in phase one of this partnership, and the future has game-changing potential for our clients and us. We commend Lead Bank in identifying a need for a solution like this in the market and choosing a partner and technology capable of executing.
Mark LozziCEO, PointChain
PointChain is a financial technology platform that provides the cannabis industry with financial services, such as deposit and cash management offerings, bill pay services, unlimited B2B payments, API-powered payment solutions that serve both businesses and the consumer, and lending solutions. In addition, PointChain contains ongoing compliance features and supports a trusted ecosystem for cannabis companies to conduct business. To learn more, visit http://www.PointChain.io.About Finzly
Finzly allows banks to innovate with a parallel core platform BankOS, that is modern, real-time, and API enabled. BankOS readily integrates to the banks’ existing core, saving banks time and money replacing the core, allowing them to focus on innovation. In addition, BankOS comes powered with an array of readymade solutions, including a multi-rail payment hub (ACH, wires, RTP, FedNow, and SWIFT), foreign exchange, multi-asset deposit core, Digital Account Opening, KYC, Risk, Compliance, and a suite of customer experience components. To learn more, visit http://www.finzly.com.
