Finzly and ICBA Bancard partner to equip community banks with instant payments

By Pavithra R

Finzly, a cutting edge FinTech provider of modern banking applications for payments, foreign exchange, trade finance and digital account opening, has announced entering into 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. 

“The rise in digital and contactless payments, fueled by the pandemic, has heighted demand for faster payments. 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,” said ICBA Bancard President and CEO Tina Giorgio.

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. The payments hub features:

• Preloaded connections to the Fed and The Clearing House for instant payments
• Built-in compliance features, robust 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’s payments hub not only helps banks stay relevant in today’s fast-paced market, but also helps future-proof their payment infrastructure,” said Finzly Founder and CEO Booshan Rengachari.

Founded in 2012, Finzly (formerly SwapsTech) found initial success in its foreign exchange, trade finance, lending, digital banking, and branch banking solutions.