Fulton Bank streamlines Foreign Exchange & Trade Finance operations with Finzly
By Pavithra R
Finzly, a cutting edge FinTech solutions provider to banks of any size, anywhere, has announced that Fulton Bank has gained significant operational efficiencies in its foreign exchange (FX) initiatives through the use of Finzly’s FX STAR & EXIM STAR solutions.
“We recognized Finzly as a proven provider that understands the unique business needs of regional financial institutions. Through the implementation of their user-friendly platform, our bank has been able to achieve better standard functionality across the board – from improved access to reports and confirming trades, to upgrades in investigation and reconciliation capabilities,” said Amy Sahm, SVP and Manager, International for Fulton Bank.
Leveraging open APIs and integrating with existing core technology, FX STAR enables Fulton Bank customers to execute foreign currency transactions via a secure portal at their convenience, utilize multi-currency accounts to purchase foreign currencies in bulk, and initiate payments. The bank can operationally self-administer its internal users, manage permissions and set limits, and Fulton Bank gains additional efficiencies by reducing incoming support calls, e-mails and texts.
Finzly’s EXIM STAR is an international trade finance solution that helps the bank efficiently and securely manage the entire transaction lifecycle of commercial letters of credit, standby letters of credit, and documentary collections.
“International trade and foreign exchange can be a complex business for financial institutions of any size to manage successfully. With one integration to the core, our FX STAR and EXIM STAR solutions help institutions like Fulton Bank to more efficiently, securely and cost-effectively meet the needs of their customers,” said Booshan Rengachari, founder and CEO, Finzly.
Founded in 2012, Finzly (formerly SwapsTech) found initial success in its foreign exchange, trade finance, lending, digital banking, and branch banking solutions.
IBSi Daily News Analysis
March 22, 2023
Cyber risks surge with Indonesia’s evolving payments landscapeRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage