Arvest Bank selects Finzly Trade Finance Platform EXIM STAR

By Robin Amlot

Charlotte, North Carolina-based FinTech Finzly, has announced that Arkansas-based community bank Arvest Bank has selected Finzly’s EXIM STAR solution to streamline trade finance processes, improve operational efficiency and introduce a new online portal for its customers. The software supports all of the traditional trade finance products including Commercial Letters of Credit (Import and Export), Standby Letters of Credit, Guarantees, Bankers Acceptances, Documentary Collections.

“When evaluating our trade finance service, we knew we needed to improve how we managed our operations if we planned to grow the business,” said Paul Jarrett, Senior Vice President and Director of Treasury Management Products at Arvest. “With Finzly, we will be able to introduce stronger process automation, more easily and efficiently track our portfolio of letters of credit, standbys, guarantees, collections and financing. And with our new client portal, our customers can self-serve and manage their trade finance products online.”

“We love working with banks like Arvest who invest wisely in technology to deliver a great customer experience and enhance the service that its treasury customers have come to expect,” said Booshan Rengachari, CEO and founder of Finzly. “We proudly welcome Arvest to the Finzly family. By partnering with us, Arvest Bank will have the tools to fully manage its trade finance business, allowing it to confidently grow and compete.”

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