USAmeriBank is live on Finastra’s next-generation, hosted payments hub for US domestic and international wire transfers. USAmeriBank selected Finastra’s hosted solution in order to have the flexibility to quickly add new payments rails and services, future-proofing its technology investment, while improving customer service and increasing straight-through processing.

The bank realized the benefits of selecting a hosted solution by going live with Finastra’s next-generation payments hub in just three months from signing. In addition to quick time-to-market and ease of implementation, another benefit of using a hosted solution is a reduction of maintenance effort and total cost of ownership, as the technology and business services are maintained by Finastra.

"Today marks an important milestone in our journey to provide world class wire service capabilities to our customers," said Kelly Spica, SVP Director of Deposit Operations, USAmeriBank. "In recent years, we have seen steady and significant growth in our wire business, and by implementing Finastra’s next-generation payments hub, we will be able to continue to add capacity and additional payment rails, virtually at the flick of a switch, in order to meet market demand and satisfy the needs of our customers."

Going live on the next-generation payments hub marks the first phase of USAmeriBank’s journey with Finastra. In the coming months, the bank plans to add US ACH, and eventually real-time payments components, completing the bank’s journey to a fully-outsourced payment processing model.

"By offering our next-generation payments hub as a hosted solution, we are able to provide our clients with rapid time-to-market and ease of implementation," said Nadeem Syed, CEO, Finastra. "USAmeriBank’s customers will quickly benefit from a market-leading payments solution with the highest levels of scalability, reliability and availability."