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
finzly@cognitomedia.com
917-660-8527
Corpay Contact:
Brad Loder
Chief Marketing Officer
Corpay Cross-Border Solutions
+1 (647) 627-6635
brad.loder@corpay.com
*"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, finzly@cognitomedia.com,
https://finzly.com/
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SOURCE Finzly