Freedom of Choice to Build Your Dream Bank

  • Product Reviews
  • 06.05.2021 05:32 pm

1. What does the product do?

Finzly’s BankOSTM  platform is a cloud-native, robust, scalable platform that encourages an open ecosystem, giving banks and credit unions the freedom to:

  1. Choose from Finzly’s array of products, including payments, digital account opening, foreign exchange, and many more;

  2. Leverage other fintechs of their choice; or

  3. Build their own differentiating products using the platform’s SDK and APIs.

The platform easily integrates with FIs’ existing core, giving them the choice to uphold their legacy services while being able to launch new products and services to compete with fintechs and new market entrants.

Finzly’s Payment Hub is an award-winning payment services hub that frees banks from managing multiple systems and vendors by efficiently connecting to multiple payment networks through intelligent payment routing and open payment APIs into a single user interface. Apart from supporting legacy payment networks like ACH, it also comes with built-in payments rails to enable the rollout of real-time payments through The Clearing House’s RTP Network and the soon-to-come FedNow from the Federal Reserve.

2. Who needs the product?
Banks, credit unions, correspondent banks and fintechs can take advantage of Finzly’s modular banking solutions, powered by a robust platform that helps build the bank of the future. Using Finzly’s unified platform, fully loaded with banking services, FIs can offer Banking as a service (BaaS) to downstream banks and other fintechs, thus opening new revenue streams.

3. What is special about the product?

BankOS allows FIs to consolidate all their solutions aligned to their business model into one central platform. This not only streamlines API integration to fintechs, but also reduces operational costs through pragmatic vendor contracts, while establishing the perfect infrastructure for innovation. FIs can embark on innovation without ripping or replacing their existing cores, while leveraging the easy integration features of BankOS to the existing legacy cores.

4. What features are relevant?

  • Open Banking APIs

  • Real-Time Payments

  • Fedwire and ACH Payments

  • Global Payments

  • Interoperability of Payments

  • Customizable Payment Workflow

  • Cloud Services 

  • AI-powered KYC for Digital Account Opening 

  • Real-time Verified Deposits

  • Built-in Regulatory Compliance

  • Better Back-Office Controls

  • White-Labeled Applications/Cards

  • Banking as a Service (BaaS)

  • Deposit as a Service 

5. What awards have recognized the product?

In the 2020 Finovate awards, Finzly’s Payment Hub was awarded “Best Enterprise Payments Solution,” while BankOS was named a finalist for the award category, “Best Back-Office/Core-Service Provider.”

During the FinovateFall 2020 conference, Finzly’s demo of BankOS was awarded “Best of Show.” Additionally, Finzly was awarded “Best of Show” at the FinovateWest 2020 conference for the company’s low-code, adaptable workflow engine, Finzly Flow, and its contactless digital account opening (DAO) solution.

6. What are some real case examples?

  • Fulton Bank Streamlines Foreign Exchange and Trade Finance Operations with Finzly FX STAR and EXIM STAR

  • Lead Bank Taps Finzly’s Award-Winning Payment Hub to Modernize its Payment Capabilities

Texas First Bank Selects Finzly’s Award-Winning Digital Account Opening Solution

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