First Bank to implement Finzly's payment hub

Friday 6 May 2022 13:20 CET | News

US-based First Bank has chosen to implement Finzly’s payment hub to improve the bank’s payment and digital capabilities.

By consolidating multiple payment rails on Finzly's payment hub, the bank will be able to offer a unified payment experience to send and receive payments on the ACH, Fedwire, and SWIFT payment networks through API or files.

Finzly’s cloud-native, micro-services-based payment hub establishes a direct connection with the Federal Reserve, The Clearing House, and SWIFT, and offloads all payment processing from the legacy core. The modular plug-and-play architecture enables faster integration with the core, allowing the launch of any payment rail through simple configurations.

Through this payment hub, First Bank can offer a single, simple API for all payment rails, facilitating the launch of Banking-as-a-Service to corporate treasuries and fintechs.

First Bank's business and treasury customers will benefit from a comprehensive treasury and cash management super app, Finzly CashOS. Using the super app, corporate customers can initiate ACH, Fedwire, and international wire payments, approve payments, upload payment files, prevent fraud, use positive pay, foreign exchange, check balances, view payment history, and self-administer the users. 

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Keywords: banks, payments , partnership, ACH, SWIFT
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech