American Banker webinar- Payments that never sleep: Future-proofing Fedwire & ACH transformation at large banks
Fast-track implementation prepares CUs ahead of deadlines while enabling future-proof payment processing.
CHARLOTTE, N.C. – January 30, 2025 – Wings Credit Union has successfully gone live on Finzly’s ISO 20022-native Fedwire platform, marking a significant milestone in their journey toward modernization. The implementation, completed in just four months, highlights the speed and efficiency of Finzly’s platform, offering a faster and better alternative to legacy translator projects that take longer and limit the benefits of ISO 20022.
Finzly’s platform is designed from the ground up for ISO 20022 message processing, enabling seamless data exchange between customers and the market infrastructure on the Fed. By eliminating manual intervention or translation needs through its ISO 20022-native design, Finzly’s platform enables Wings CU to achieve faster, more accurate payment processing. This efficiency translates directly into an improved experience for members, with quicker transactions, fewer errors, and a seamless payments journey. Additionally, the platform supports older FAIM formats, automatically converting them to ISO 20022, ensuring a smooth transition without service disruptions.
“As financial institutions navigate the transition to ISO 20022, we’re proud to deliver a platform and implementation process that simplify the journey for our clients,” said Booshan Rengachari, founder and CEO of Finzly. “Wings CU’s success is a testament not only to the strength of our flexible, all-in-one payments platform but also to our proven implementation expertise, which ensures rapid, high-quality deployments for institutions ready to transform their payments infrastructure.”
As financial institutions navigate the transition to ISO 20022, we’re proud to deliver a platform and implementation process that simplify the journey for our clients.
Finzly’s proven track record of high-quality implementations and consistently high customer satisfaction sets the company apart in the payments industry. Unlike legacy translator overlay projects that are time-consuming and offer limited functionality, Finzly’s platform provides a robust, future-proof solution for ISO 20022 compliance. It is pre-wired for seamless connectivity with the Federal Reserve, TCH, and SWIFT, offering a single platform for rail consolidation and payment modernization.
Wings Credit Union’s adoption of Finzly’s platform is not only a step toward compliance but also a strategic move to modernize its payments infrastructure for all its rails, ensuring its members benefit from faster, more reliable payment services. With Finzly, Wings CU joins the growing list of financial institutions experiencing the transformative power of ISO 20022-native design.
About Finzly
Finzly helps banks and credit unions thrive in a real-time, connected world with its Finzly BankOS platform. Institutions can quickly launch instant payments, modernize ACH and wire transfers, and orchestrate payments through a unified API and ISO 20022-native payment hub. Finzly, recognized with multiple awards, also offers advanced FX solutions to help banks attract corporate and enterprise treasury customers. Learn more about Finzly's game-changing solutions by visiting https://finzly.com.
About Wings Credit Union
Wings Credit Union is a not-for-profit, member-owned credit union headquartered in Apple Valley, Minnesota. With over $9.3 billion in assets, Wings is Minnesota's largest credit union and serve over 360,000 members in all 50 states. Wings members enjoy some of the area's best savings and lending rates, convenient mobile and online access, over 80,000 surcharge-free ATMs and 26 branch locations throughout Minnesota, plus offices in Atlanta, Detroit, and Orlando. Founded in 1938, Wings' membership eligibility has grown from serving employees of the air transportation industry to include anyone who lives or works in 34 Minnesota and Wisconsin counties, plus broader eligibility options. Learn more about Wings by visiting their website at wingscu.com.
Source: PRWeb
