FirstBank’s commercial clients can now initiate foreign currency wire transfers directly within their digital banking platform, with Derivative Path and Wells Fargo handling FX execution and liquidity behind the scenes
Derivative Path, a derivatives and risk management platform trusted by more than 300 financial institutions, announced the delivery of an FX payments solution powered by Wells Fargo’s FX Payment Solutions and connected through Jack Henry’s Treasury Management platform. The integration enables community banks to offer their commercial clients the ability to initiate foreign currency wire transfers directly within their existing digital banking environment.
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Commercial banking clients increasingly expect their financial institutions to support cross-border payment capabilities. For community banks, meeting that demand has historically required significant investment in technology, compliance infrastructure, and liquidity relationships. Derivative Path’s approach eliminates that burden by connecting its DerivativeEDGE® SaaS platform with established liquidity partners and core banking systems, allowing banks to offer competitive international payments as a natural extension of their existing digital services.
FirstBank (Nashville, TN) is the first bank to go live on the DerivativeEDGE solution connected through JHA Treasury ManagementTM. FirstBank has been a Derivative Path client for five years, using the platform for interest rate derivatives, and the addition of international payments represents a deepening of that relationship.
“We built our International Payments solution to give community banks the same cross-border capabilities that larger institutions offer, without requiring them to build the infrastructure themselves,” said Zack Nagelberg, President of Derivative Path. “By working with Wells Fargo and Jack Henry, we’ve created a path giving banks an opportunity to achieve a connected solution for FX payments. FirstBank has been such a valued partner on our DerivativeEDGE platform, and this expansion into international payments is exactly the kind of growth we designed the platform to support.”
For FirstBank, the integration addresses a growing need among its commercial client base. By offering foreign currency payments accessed through the same JHA Treasury platform clients already use for domestic banking, FirstBank can strengthen relationships, generate new revenue from FX transactions, and provide a competitive alternative that keeps commercial clients within the bank’s ecosystem.
“Our commercial clients need the ability to make international payments efficiently and competitively, and we wanted to deliver that capability without adding complexity to their banking experience,” said Ron Zimmerman, Senior Vice President at FirstBank. “With Derivative Path and Wells Fargo connected through Jack Henry, our clients can access and initiate foreign currency wires from the same digital platform they use every day. It strengthens our commercial offering and gives us a meaningful advantage in retaining and growing client relationships.”
The solution works by connecting three platforms into a single workflow. A commercial client is able to access Derivative Path’s International Payments platform, which manages the FX execution process. Wells Fargo serves as the FX desk and liquidity provider, delivering competitive foreign exchange pricing to the bank and its clients. The entire process is transparent to the end user, who experiences a streamlined digital transaction within the banking platform they already use.
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