Chris Zingo, Managing Director, Americas, Enterprise Markets, Finastra

Finastra’s Total Payments platform has been selected by Silvergate Bank in an attempt to expand its financial infrastructure with an API-enabled solution for payment process.

According to the supplier, Finastra’s Total Payment will enable Silvergate Bank to ensure that it is compliant with the latest regulatory requirements. The platform model helps ensure regulatory compliance across the solution with continual, timely updates around regulations, standards, and clearing connections, all managed by Finastra.

Total Payments platform assists financial institutions to customer service, simplify payment and reduce operating expense.

“With more than 500 digital currency and Fintech customers using our platform to scale their business, Silvergate understands the importance of providing its clients with robust technology solutions,” said Chris Lane, Chief Operations Officer, Silvergate Bank. “Finastra’s API-enabled payment platform running in the cloud reinforces our deep-rooted commitment to regulatory compliance while ensuring we are offering the most progressive solutions in the market.”

“Silvergate Bank’s vision for Fintech innovation aligns with our own,” said Chris Zingo, Managing Director, Americas, Enterprise Markets, Finastra.“We look forward to working closely together to make sure that the bank is delivering the most robust payment solutions to its customers, evolving features and functionality to meet and exceed customer expectations. The platform’s robust API layer and cloud-based delivery model make it quick and easy to add functionality—created within Finastra or externally.”

Formed in 2017 by the combination of Misys and D+H, Finastra provides a portfolio of financial services software such as retail banking, transaction banking, lending, and treasury and capital markets.

Headquartered in San Diego, Silvergate Bank is a financial infrastructure solutions provider.

by Megha Bhattacharya
Market Analyst at IBS Intelligence