Finzly Launches FedNow Service through Finzly BankOS Platform in AWS Marketplace

Digital banking
23.10.2024 12:40 pm

Finzly, an early participant in the FedNow™ pilot and a leading service provider for financial institutions (FIs) to send and receive payments on the FedNow network, announced today that its instant payment service is now available in AWS Marketplace, a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS).

Powered by AWS, the Finzly BankOS platform integrates the FedNow service seamlessly with FIs' core and digital banking systems. Finzly’s Digital Galaxy enhances this offering by providing a comprehensive digital banking experience, enabling businesses and consumers to send, receive, and request instant payments.

Finzly’s modern payment hub on the BankOS platform enables financial institutions to connect effortlessly to traditional rails like Automated Clearing House (ACH) and Fedwire, as well as modern networks such as FedNow and Real Time Payments (RTP), all with just a few clicks and independent of their core systems.

A recent US Faster Payments Council survey found that nearly 75% of financial institutions see legacy systems as a barrier to using FedNow. Finzly’s BankOS platform addresses this with Application Programming Interface (API)-driven solutions for quick FedNow deployment, removing the need for complex builds and making instant payments more accessible.

Adding Finzly’s instant payments solution to the AWS Marketplace is a significant step forward. For financial institutions that are ready to offer instant payments to their customers scalability, real-time processing, and the ability to easily send and receive payments across networks are critical for keeping up with increasing customer demands and regulatory standards.

Reed Luhtanen, Executive Director, U.S. Faster Payments Council (FPC)

We are excited that our BankOS solution powered by AWS is now available in AWS Marketplace helping eliminate technology barriers to FedNow adoption for even more financial institutions. Our AWS-powered platform enables financial institutions to transform into digital enterprises by optimizing speed, quality, and security for the demands of a real-time environment.

Booshan Rengachari, Founder and CEO, Finzly
Frost Bank recently selected Finzly’s BankOS to modernize its payment operations.
"At Frost, we work hard to make our customers' lives easier and better," said Aaron Wiatrek, a senior vice president at Frost Bank. "By partnering with Finzly to deliver FedNow and RTP instant payments solutions, we can provide our customers with more options beyond traditional payments methods, enabling them to move money at the speed they need, when they need it."