back Back

Finzly unveils interest rate derivatives app within BankOS

By Pavithra R

February 17, 2021

  • America
  • Finzly
Share

Booshan Rengachari, founder and CEO, Finzly

Finzly, a cutting edge FinTech solutions provider to banks of any size, anywhere, has announced the launch of SWAP STAR, a state-of-the-art, end-to-end, sales, trading and post-trade processing system for interest rate derivatives.

The new SWAP STAR is available as an app within Finzly’s open, cloud-based bank operating system, BankOS. It is hosted in a secure SSAE-certified cloud to provide security, real-time monitoring, automated upgrades, auto-scalability and 99.99% availability. The system fully integrates with the banks’ core platform, streamlining the pricing, booking and servicing of customers’ interest rate swaps via a single application.

“Finzly’s mission is to help banks better compete in the marketplace by offering services and capabilities on par with, and even exceeding, those of much larger institutions. BankOS is a revolutionary platform that transforms banking and democratizes access to state-of-the-art technology for financial institutions of any size. SWAP STAR is a ‘big bank’ platform available at an affordable cost for regional and community banks, helping to increase their non-interest income without giving them away,” said Booshan Rengachari, founder and CEO, Finzly. 

With SWAR STAR, FIs can manage their loan portfolio’s interest rate risk and help corporate or real-estate borrowers hedge their loans’ interest rate risk. The system manages the complete life cycle of the swap, including sales, execution, settlements, resets, reporting, GAAP/IFRS accounting and compliance. The cloud-hosted platform also delivers automated updates to adhere to the latest industry compliance and regulations.

Finzly offers multiple corporate and treasury solutions through one single integration to the core via BankOS. Banks can start with any 1 solution, such as foreign exchange, trade finance, interest rate swaps or payment hub, and add other solutions later using Finzly’s “plug and play” model. The platform also offers Expert Advisory Services, available through Finzly’s partnership with Derivative Logic. 

Founded in 2012, Finzly (formerly SwapsTech) found initial success in its foreign exchange, trade finance, lending, digital banking, and branch banking solutions. With its launch of the BankOS platform and Payment Hub solutions, the FinTech has expanded its mission to enable banks to accelerate product development by creating an Appstore ecosystem that empowers banks to instantly and easily try new products and services.

Previous Article

February 17, 2021

Allied Payment Network partners with Moven to offer modernized bill pay technology

Read More
Next Article

February 17, 2021

Mirato closes $9m in funding; company’s TPRM platform empowers FIs

Read More










IBSi Daily News Analysis

Payments, holidays, Black friday

November 29, 2022

America

Black Friday sales could surge £200m if payments didn’t fail, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

November 28, 2022

Singapore and UK strengthen their FinTech partnership

Read More

November 28, 2022

Moneycorp partners with BankClarity for cross-border payments

Read More

November 28, 2022

Bladex enters alliance with TradeAssets, driving digitalisation and access to trade finance

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022