Using Finzly’s advanced payment infrastructure, Metropolitan Commercial Bank is set to transform its payment operations, covering ACH, Fedwire, and FedNow for its customers and industry partners.
Finzly, a cutting-edge payment solutions provider, has announced a strategic partnership with New York-based Metropolitan Commercial Bank, a financial institution known for its strong commitment to business banking and success within the payments ecosystem.
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The collaboration represents a significant milestone in enhancing Metropolitan Commercial Bank’s payment processing capabilities and offering a superior banking experience to its business customers and industry partners. Metropolitan Commercial Bank aims to transform its payment processing operations on ACH, Fedwire, and FedNow through the adoption of Finzly’s payment infrastructure. Additionally, by integrating Finzly’s innovative business banking platform, the bank plans to introduce customized payment solutions that cater to the specific needs of its diverse business clientele.
Finzly’s payment core serves as a centralized payment processing system for all payment rails and seamlessly integrates with the bank’s core systems, as well as key third-party systems such as GL, AML, and OFAC, ensuring compliance and efficiency in payment monitoring and management.
Finzly’s direct and certified connections to The Clearing House, the Federal Reserve, and the SWIFT network expedite the implementation, giving Metropolitan Commercial Bank’s customers access to all payment rails, including the recently launched FedNow instant payment service. Additionally, leveraging Finzly’s API to FedNow enables the bank to effortlessly integrate value-added services into its offerings, unlocking a broader range of services, including instant payments for loans and other financial products.
This strategic partnership also enables the bank to foster the seamless onboarding of industry partners, platforms, and neobanks, facilitated by Finzly’s single API access to its highly versatile payment infrastructure. Built on a robust award-winning cloud-based platform, this technology is primed to effortlessly scale up, effectively addressing the increasing demands of payment processing within the thriving B2B ecosystem.
“We are deeply honored to be chosen as Metropolitan Commercial Bank’s payment solutions partner,” said Booshan Rengachari, Founder, and CEO of Finzly. “Our commitment is steadfast in empowering the bank to further its payment capabilities and deliver truly exceptional experiences to their diverse clientele.”
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Nick Rosenberg, Executive Vice President, Head of Global Payments Group, at Metropolitan Commercial Bank, added, “We selected Finzly for its ability to cater not only to our business customers and consumers but also to foster robust partnerships within the payments industry. Through Finzly’s advanced payment infrastructure, we now lead the way in delivering advanced payment experiences, positioning us at the forefront of financial innovation.”
Finzly was among the first to go live on the FedNow network, offering financial institutions an agile and futureproof solution tailored to meet the demands of the connected ecosystem.
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