Finzly Positions Its Customers Ahead of the Shift to Swift MX ISO 20022

Finzly, a leading provider of modern payment infrastructure for financial institutions, today announced that its customers are ISO 20022-ready on FX STAR, the company’s modern foreign exchange and cross-border payments platform. By adopting SWIFT MX messages, Finzly’s customers join the first wave of financial institutions embracing the new global messaging standard, ahead of upcoming deadlines.

Finzly’s award-winning foreign exchange trading solution – FX STAR, used by some of the leading financial institutions, is now SWIFT MX ready, enabling all cross-border payment messages to be handled in native ISO 20022 format. With this upgrade, FX STAR processes payment instructions, statements and status messages directly as ISO 20022 MX messages, ensuring end-to-end compliance and interoperability across global correspondent banking networks.

Built on an ISO 20022-native architecture, FX STAR eliminates the need for legacy translation layers, delivering richer data, enhanced transparency, and seamless integration with banks’ existing SWIFT environments.

“Reaching ISO 20022 readiness on FX STAR is a milestone we owe entirely to our customers,” said Booshan Rengachari, founder and CEO of Finzly. “Their trust and collaboration inspired our team to flawlessly deliver two major upgrades – Fedwire and now Swift for the new standards. This achievement reflects not just our operational excellence, but the power of true partnership in driving innovation.”

Finzly’s ISO 20022 readiness on FX STAR reflects its broader commitment to modernizing payment infrastructure, providing banks with API-driven, cloud-native solutions across payments, foreign exchange, and embedded banking.

Key Benefits:

For bankers and their customers: Turn richer ISO 20022 payment data into actionable insights – spot FX, trade, factoring, and supply chain opportunities faster and smarter.

For back-office teams: Improve risk management and compliance, increase straight-through processing, automate exception handling, and resolve failed payments quickly.

“Testing and launching ISO 20022 on FX STAR was successfully completed well ahead of the industry SWIFT deadline. Positioning ourselves to go live in advance was strategically valuable for us,” said Amy Sahm, SVP and Manager, International, Fulton Bank. “We appreciate the Finzly team’s professionalism and dedication. Together, we now have the infrastructure and operational readiness to maximize the value of structured payments data for our clients.”

In July, Finzly was among the first to get its customers ready for Fedwire’s ISO 20022 migration, enabling up to 100% straight-through processing. Now, with SWIFT MX readiness, Finzly reinforces its position as a clear leader in payments, delivering modern technology and capabilities that let customers process cross-border payments in native ISO 20022 format.