Jefferson Bank expands partnership with Finastra

According to the announcement, the cloud-based payments solution is set to help Jefferson Bank to efficiently deliver both RTP TCH and FedNow services 24/7 and accommodate the rapidly growing volume of instant payment transactions.

Jefferson Bank has selected Finastra's Finastra Payments To Go, a payments-as-a-service solution for its new instant payments services.

Deployed on Microsoft Azure’s cloud, Payments To Go provides Jefferson Bank with the agility needed to offer new and innovative payments rails, including RTP and FedNow Service. Both RTP TCH and FedNow services, available through Finastra’s Financial Messaging Gateway, connect directly to their respective networks for more affordable access to the payment rails.

The press release continues to state that Finastra is well-positioned to provide financial institutions with the ability to deliver instant payment services around the clock, with more than 200 customers across the US able to launch the service through its solutions.

As consumer demand in the market continues to evolve, it’s crucial that financial institutions of all kinds have the solutions they need to stay competitive. Finastra's payments hub provides Jefferson Bank with the tools it needs to bring all payments services together, enabling the team to embrace Open Finance while attracting and retaining customers.

Over time, the bank will migrate its wire services from Finastra PayPlus Connect, fully consolidating all payment services under one, comprehensive Finastra solution. Financial institutions can now subscribe to Payments To Go through Microsoft Azure Marketplace for convenient billing through one single invoice.

What does Finastra do?

Finastra is a global provider of financial software applications and marketplaces, and launched the open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing software solutions and services across lending, payments, treasury & capital markets, and universal banking (retail, digital, and commercial banking) for banks to support direct banking relationships and grow through indirect channels, such as Embedded Finance and Banking as a Service.