Partnership empowers financial institutions with real-time FX rates and access to over 200 international markets for foreign currency international wires on Finzly's platform
CHARLOTTE, N.C., Aug. 14, 2024 /PRNewswire-PRWeb/ -- Finzly, Inc. ("Finzly"), a leader in innovative payment and financial solutions, today announced an agreement with Corpay, Inc.* Cross-Border business, (NYSE: CPAY) a global leader in corporate payments, to collaborate on a joint offering that brings together Finzly's FX payment platform and Corpay's real-time FX rates. This collaboration provides a unique offering to financial institutions and their business clients, enabling FX transaction capabilities that are seamlessly integrated with many payment rails. The combined solution will offer convenient and intuitive FX capabilities, covering more than 200 international markets.
Businesses that need to send and receive international payments commonly use multiple siloed banking systems to make these transactions. This tends to increase the complexity and the need for manual redundant processing. As a result, these transactions can be error-prone and slow to complete.
By integrating Corpay Cross-Border's platform with Finzly's FX payment platform, international payments processing can be more automated, and seamlessly integrated with other domestic accounts and payment rails. Finzly's unified API makes it easy to send international payments via Swift.
"We are thrilled to partner with Finzly to empower financial institutions and their clients with seamless access to real-time FX rates, spanning over 200 international markets, and automated processing capabilities. These advancements are responsive to the growing complexity of cross-border transactions, setting us apart with real-time rates and extensive global reach," said Brad Loder, Chief Marketing Officer, Corpay Cross-Border Solutions.
"Together we are bringing to market a modular FX solution with excellent synergies that allows banks of all sizes to compete with large global banks, provide competitive FX rates and superior customer experience in international payments. Additionally, real-time FX rates can help financial institutions to manage and mitigate FX risk more effectively," said Booshan Rengachari, Founder and CEO of Finzly.
About Finzly
Finzly empowers banks, fintechs, and businesses to seamlessly offer and access financial services in an open, connected, embedded, and real-time ecosystem. At the core of this infrastructure is FinzlyOS, a modern, cloud-based, API-enabled operating system that serves as a parallel payment processing platform to a bank's core. Finzly offers a wide range of turnkey banking solutions, including a multi-rail payment for traditional payments on ACH and wires, instant payments on FedNow and RTP, foreign exchange, trade finance, compliance, and commercial banking digital experiences. Learn more about Finzly's game-changing solutions by visiting http://www.finzly.com.
About Corpay
Corpay, Inc. (NYSE: CPAY) is a global S&P500 corporate payments company that helps businesses and consumers pay expenses in a simple, controlled manner. Corpay's suite of modern payment solutions help its customers better manage vehicle-related expenses (such as fueling and parking), travel expenses (e.g. hotel bookings) and payables (e.g. paying vendors). This results in our customers saving time and ultimately spending less. Corpay Cross-Border refers to a group of legal entities owned and operated by Corpay, Inc.
Corpay – Payments made easy. To learn more visit https://www.corpay.com/about-us.
Cognito Media
[email protected]
917-660-8527
Corpay Contact:
Brad Loder
Chief Marketing Officer
Corpay Cross-Border Solutions
+1 (647) 627-6635
[email protected]
*"Corpay" in this document primarily refers to the Cross-Border Division of Corpay, Inc. https://www.corpay.com/cross-border; a full listing of the Corpay companies that are part of Corpay Cross-Border is available here: https://www.corpay.com/compliance. Please also see https://cross-border.corpay.com/disclaimers/.
Media Contact
Cognito Media, Finzly, 9176608527, [email protected], https://finzly.com/
SOURCE Finzly
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