Lead Bank taps Finzly to modernise its payment capabilities

Friday 27 May 2022 10:58 CET | News

US-based Lead Bank has implemented fintech Finzly’s Payment Hub to augment the bank’s payment and digital capabilities.

In 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 a suitable partner to improve the bank’s payment capabilities and digital offerings. Integrating with Lead Bank’s core technology, Payment Hub enables the bank to centralise the operation of multiple payment networks and deliver user experience.

Finzly’s Payment Hub supports multiple payment networks through a single, consolidated system, including ACH, Fedwire, SWIFT, and emerging 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 centralise 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.

Lead Bank’s officials stated that the ability to service their 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 its channel partners. Finzly’s solution provides a modern technology platform in which the bank can expand payment capabilities while tapping a flexible and innovative solution to support it in delivering on the specialised needs of its clients.

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Keywords: BaaS, partnership, digitalisation, Swift messages, ACH, API, real-time payments
Categories: Banking & Fintech
Companies: Finzly, Lead Bank
Countries: World
This article is part of category

Banking & Fintech



Lead Bank

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