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ICBA Bancard and Finzly Partner to Offer Instant Payments
Finzly, a fintech provider of modern banking applications for payments, foreign exchange, trade finance, and digital account opening, today announced a new partnership with ICBA Bancard, the payments services subsidiary of The Independent Community Bankers of America (ICBA), to facilitate instant payments via Finzly’s Payment Galaxy, a payment hub for improved convenience, cash flow and efficiency for community banks and their customers. Finzly was a fintech participant in ICBA’s 2020 ThinkTECH Accelerator program.
“The rise in digital and contactless payments, fueled by the pandemic, has heighted demand for faster payments,” ICBA Bancard President and CEO Tina Giorgio said. “Through this collaboration, ICBA Bancard is helping community banks deliver payments when and where customers want while streamlining their payment processes for additional value and distinction in the market.”
Payment Galaxy enables the provision of existing payment services like ACH and wires, alongside the new instant payment rails, including The Clearinghouse’s RTP® and when available, FedNowSM using a single, core agnostic, interface.
Finzly’s instant payment solution takes the complexity out of instant payments and can be up and running in as little as three months. The payments hub features:
- Preloaded connections to the Fed and The Clearing House for instant payments
- Built-in compliance features, powerful audit trails and meaningful dashboards
- Bulk payment service to pay in real-time or future date scheduling
- A secure system for payments and messages for fraud management
“We are very excited to partner with ICBA Bancard and are eager to see more community banks pursuing the road to innovation through smarter payments transformation,” Finzly Founder and CEO Booshan Rengachari said. “Finzly’s payments hub not only helps banks stay relevant in today’s fast-paced market, but also helps future-proof their payment infrastructure.”
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