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Lead Bank implements Finzly Payment Hub

Source: Finzly

Finzly, a fintech provider of modern banking applications for payments, foreign exchange, trade finance and digital account opening, announced today that Lead Bank has implemented Finzly’s Payment Hub to enhance the bank’s payment and digital capabilities.

Payment Hub is part of Finzly’s open, cloud-based bank operating system, BankOS, positioning Lead Bank to support immediate and future innovation initiatives.

As part of Kansas City, Mo.-based 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 an ideal technology partner to improve the bank’s payment capabilities and digital offerings. Integrating with Lead Bank’s core technology, Payment Hub empowers the bank to centralize the operation of multiple payment networks and deliver an enhanced user experience to their valuable customers.

Finzly’s recently enhanced, award-winning Payment Hub supports multiple payment networks through a single, consolidated system, including ACH, Fedwire, SWIFT and emerging complex 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 centralize 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.

“The ability to service our 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 our channel partners,” said Sheila Stratton, Director of Digital Strategy, Lead Bank. “Finzly’s solution provides a modern technology platform in which our bank can expand payment capabilities while tapping a flexible and innovative solution to support our bank in delivering on the specialized needs of our clients.”

“Lead Bank is leading the way in which FIs can partner with fintechs to innovate with speed and go to market faster,” said Booshan Rengachari, founder and CEO, Finzly. “Payment Hub takes the workload off of the legacy core system and gives the bank the freedom to innovate without limitations. With Payment Hub, Lead Bank can offer a seamless and more secure payment experience, while also offering fintech banking. We are pleased to partner with Lead Bank and look forward to continued collaborations to support the bank’s transformation to embrace the future.” 

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