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EverBank & Finzly to modernise bank payments operations

By Delisha Fernandes

April 19, 2024

  • EverBank
  • Financial Institutions
  • Fintech news
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Finzly, Quaint Oak Bank, Embedded Banking, Payments, multi-currency accounts, financial institutions, FinTech news, FinTech USFinzly, a payment and financial solutions provider, has announced a partnership with EverBank to enhance the bank’s payment processing system with Payments Galaxy.

Used to consolidate and automate payment operations, Finzly’s Payments Galaxy platform will aid EverBank’s efforts to enhance operational efficiency and compliance while accommodating the complex needs of its diverse client base.

“As we looked for a new payments operations partner, we were impressed with Finzly’s technology and expertise,” said EverBank’s Executive Vice President, Chief Operating Officer Lindsay Lawrence. “We look forward to working closely with the Finzly team to roll out the platform with the goal of creating enhanced performance for our clients and counterparties. We chose Finzly based on a few key factors: the platform provides features that support foreign exchange (FX) and foreign currency payment processing, it converts USD to FX, it delivers appropriate disclosures and receipts for customer payments, and interfaces with other technology for trades and settlement.”

EverBank, a nationwide specialty bank providing high-value products and services to consumer and commercial clients nationwide, identified a goal to modernise its payments operations to meet evolving market demands.

The collaboration with Finzly will allow EverBank to centralise its payment systems onto a singular platform, streamlining operations and reducing reliance on manual processes. This shift is expected to enable EverBank to process a large volume of payments to investment firms, providing the bank with greater automation, scalability, and control, enhancing the overall client experience.

“We are thrilled to join with EverBank and support their journey towards modernizing payments operations,” said Booshan Rengachari, founder and CEO of Finzly. “Our innovative solutions are designed to empower financial institutions like EverBank with the tools they need to thrive in today’s dynamic banking landscape. By consolidating their payment rails onto our platform, EverBank will unlock new levels of efficiency, scalability, and compliance, ultimately delivering enhanced value to their clients.”

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