Zenus fortifies its payment capabilities by integrating with ECS Fin to gain access to the Visa B2B Connect network
ECS Fin announces Zenus Bank has integrated Visa B2B Connect via ECS Fin’s IMS Payments. This will help strengthen the bank’s B2B cross-border money-movement capabilities, resulting in end-to-end speed, cost efficiency and transparency.
Visa B2B Connect facilitates global B2B payments directly between an originating and a receiving financial institution via a single API, streamlining payments with greater transparency and predictability. Through the integration into ECS Fin’s IMS Payments Hub, Zenus Bank can now harness the power of Visa B2B Connect such as utilizing the network’s APIs to determine accuracy of a payment before it is initiated, helping to reduce the likelihood of payment failure.
Additionally, the bank will gain full visibility into the lifecycles of transactions receiving status updates and effectively managing subsequent payment rejects and recalls through APIs, all seamlessly integrated within the IMS Payments. ECS Fin will also assist the bank in checking the payment messages to ensure each country’s specific validation requirements are met before any transaction, ensuring corporate payments are faster, safer, and more efficient.
Read More on Fintech : Global Fintech Interview with Sadra Hosseini, CEO at Ryft
This collaboration provides Zenus Bank with expanded routing options for their business customers, offering reach, savings and speed. In a world dealing with increased industry needs and customer demands, these efforts align with the shared goals of maintaining a globally connected financial infrastructure, ensuring the optimal levels of compliance, resiliency, security, and reliability.
Zenus Bank’s CEO expresses excitement at achieving a significant milestone of making payments through Visa B2B Connect, all thanks to ECS Fin. Addressing traditional inter-bank cross-border payment challenges, this transformation in the transaction landscape ensures predictability and real-time visibility by reducing multiple handoffs in the payment chain. Our collaboration with ECS Fin aligns with our commitment to enhanced customer convenience, embracing the core values of digital financial inclusion.
ECS Fin’s CEO, Jacob Aruldhas, highlights the successful integration of Visa B2B Connect into the IMS Payments Platform as a significant milestone, poised to redefine the landscape of cross-border B2B payments. This accomplishment provides extensive coverage and versatile options, reducing the need to depend upon correspondent banking. Now, Zenus Bank is unlocking substantial business opportunities in cross-border payments, expanding its regional and global footprint.
With an unwavering focus on customer satisfaction, we aspire to reshape the future of cross-border B2B payments, providing transparency, finality, and predictability.
Catch more Fintech Insights : Global Fintech Interview with Kapil Kale, Co-founder and COO of Tremendous
[To share your insights with us, please write to psen@itechseries.com ]
