Wings Credit Union streamlines payments & member experience

Modernizing payments and enhancing member experience at Minnesota’s largest CU

Objectives

Centralize payment operations across various channels (core banking, digital banking, and wire transfers)
Ensure ISO 20022 compliance for Fedwire by March 2025
Improve operational efficiency and enhance the member experience through streamlined, real-time payment solutions
Move away from legacy payment processing systems to a modern solution to support multiple payment rails, including FedNow, RTP, ACH, and Wires

Finzly’s payment hub: Unifies and modernizes legacy payment systems, centralizing FedNow, RTP, ACH, and wire transfers onto one platform
ISO 20022 compliance: The CU has already been certified with the Fed for Fedwire ISO 20022, ensuring regulatory readiness, much ahead of the 2025 deadline
Modern UI and architecture: Provides a clean, user-friendly interface to both backoffice users and customers, built on a scalable framework
Speed of implementation: Delivers rapid deployment on a 90-day framework, meeting critical deadlines and accelerating service rollouts
Seamless integration: APIs integrate smoothly with Wings' existing core, online banking and other 3rd party systems, minimizing disruption

Centralized payment processing: Streamlines all payment channels, enhancing operational efficiency
ISO 20022 compliance: Ensures a smooth transition to the new payment standard, reducing risk
Enhanced member experience: Real-time payments via FedNow and RTP provide faster, more convenient transactions
Scalability: Positioned to handle future payment types and regulatory changes