US-based Finzly has launched a treasury management super app that can manage accounts, payments, and global treasury needs of business customers. The Finzly Experience Hub was designed to embed directly into banks’ existing digital platforms in order to provide global transaction banking to business, commercial, and corporate clients.

This new treasure management super app is an alternative to conventional one-size-fits-all business banking platforms that drive users to toggle between different spreadsheets, cash, and treasury management solutions from multiple providers. In order to address this issue, the Experience Hub embeds several business banking apps within one super app platform. This allows banks to curate banking services according to the needs of individual businesses.

The solution offers SMBs, commercial and corporate customers the opportunity to manage all their accounts, payments, beneficiaries, and authorisations through a self-service portal. Using this system, business customers can initiate domestic (ACH, Fedwire, RTP & FedNow) and international payments with real-time email notifications to approvers, manage users and their privileges, as well as manage bulk payments. The super app also incorporates fraud prevention features such as Positive Pay.

FX trading is supported, which means that clients can buy and sell currency and use multi-currency accounts to manage their global treasury. Other Finzly partnerships and developments in 2022 In May 2022, US-based Lead Bank partnered Finzly in order to implement Payment Hub. Integrating with Lead Bank’s core technology, Payment Hub enabled the bank to centralise the operation of multiple payment networks and deliver an improved user experience.

Lead Bank’s officials stated that the ability to service their fintech and corporate clients with a Banking-as-a-Service solution, as well as communicate messages to and from the core platform, is crucial to fulfilling and facilitating the requirements of Lead Bank and its channel partners. Finzly’s solution provided a modern technology platform that allowed the bank to expand its payment capabilities. Payment Hub is able to streamline payment automation to free FIs from the manual processing of payments and reconciliation, and it can also enable FIs to provide customers with a more seamless payment experience.

In the same month, US-based First Bank has chosen to implement Finzly’s Payment Hub to improve its payment and digital capabilities. Through this payment hub, First Bank can offer a single, simple API for all payment rails, facilitating the launch of Banking-as-a-Service to corporate treasuries and fintechs. In July 2022, Finzly has joined the newly launched Banking-as-a-Service (BaaS) Association, which was formed by Bankers Helping Bankers (BHB), a social platform for collaboration and education on Banking-as-a-Service.

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