Finzly Launches FedNow Service Through Finzly BankOS Platform in AWS Marketplace

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, has announced 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,” remarked Reed Luhtanen, Executive Director of the U.S. Faster Payments Council (FPC).

Booshan Rengachari, founder and CEO of Finzly said, “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.”

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.” 

Finzly’s BankOS Platform Key Benefits:

Rapid FedNow Launch: Connect to FedNow in just a few clicks via our AWS-powered, scalable platform, available 24/7/365

Versatile Instant Payment Services: Allow a wide range of use cases, including account transfers, bill payments, and mortgage payments.

Extensive Network Access: Tap into FedNow’s network of over 1,000 participating financial institutions and connect with businesses on the AWS Marketplace.

Revenue-Boosting Embedded Banking: Utilize our API catalog to enhance real-time payment revenue opportunities.

AWS customers can access Finzly’s BankOS platform directly within AWS Marketplace, taking advantage of streamlined procurement, consolidated billing, and customized pricing terms, while also retiring their Enterprise Discount Program (EDP) commitment when applicable. Finzly will offer private subscriptions for enterprises seeking tailored commercial solutions, allowing customers to work directly with Finzly while benefiting from centralized invoicing through AWS.

Financial institutions can leverage the AWS Finzly Real Time Payments Workshop Studio [MOU1] [SR2] [AV3] to expedite their FedNow adoption, and if interested in accelerating the modernization of ACH[MOU4] [SR5] , Fedwire, RTP and Swift rails are encouraged to get started by expressing their interest here.