Fulton Bank Streamlines Foreign Exchange and Trade Finance Operations with Finzly FX STAR and EXIM STAR
- Online Trading , Payments , Banking
- 15.03.2021 06:40 pm
Finzly, a fintech provider of modern banking applications for payments, foreign exchange, trade finance and digital account opening, announced that Lancaster, Pa.-based Fulton Bank, N.A. ($25 billion asset) has gained significant operational efficiencies in its foreign exchange initiatives through the use of Finzly’s FX STARTM and EXIM STARTM solutions.
“We recognized Finzly as a proven provider that understands the unique business needs of regional financial institutions,” said Amy Sahm, SVP and Manager, International for Fulton Bank. “Through the implementation of their user-friendly platform, our bank has been able to achieve better standard functionality across the board – from improved access to reports and confirming trades, to upgrades in investigation and reconciliation capabilities.”
Leveraging open APIs and integrating with existing core technology, FX STAR enables Fulton Bank customers to execute foreign currency transactions via a secure portal at their convenience, utilize multi-currency accounts to purchase foreign currencies in bulk, and initiate payments. Operationally, the bank can self-administer its internal users, manage permissions and set limits, and Fulton Bank gains additional efficiencies through the reduction of incoming support calls, emails and texts. Finzly’s EXIM STAR is an international trade finance solution that helps the bank more securely and efficiently manage the entire transaction lifecycle of commercial letters of credit, standby letters of credit, and documentary collections.
“International trade and foreign exchange can be a complex business for financial institutions of any size to manage successfully,” said Booshan Rengachari, founder and CEO, Finzly. “With one integration to the core, our FX STAR and EXIM STAR solutions help institutions like Fulton Bank to more efficiently, securely and cost-effectively meet the needs of their customers.”
Finzly connects financial institutions with customers through a modern digital banking experience and an efficient, real-time payment services hub. Freeing financial institutions from core system limitations, Finzly’s open, cloud-based bank operating system, BankOS, enables transformation and innovation at the speed of fintech. With freedom to adopt solutions from Finzly and third parties of choice, financial institutions can implement apps in three simple steps – subscribe, try and launch. Serving customers across North America, Finzly has been modernizing international banking and treasury management solutions since 2012. For more information, visit www.finzly.com.
About Fulton Bank, N.A.
Fulton Bank, N.A. is a subsidiary of Fulton Financial Corporation, a $26 billion financial holding company headquartered in Lancaster, PA. Fulton Bank operates more than 223 financial centers throughout Pennsylvania, New Jersey, Maryland, Delaware and Virginia. Learn more at FultonBank.com.