Company Overview
Finzly prepares banks to face the economy’s real-time needs through the cloud-native and digital operating system. FinzlyOS enables the launching of financial products effortlessly, just like adding an application to a phone. Banks can centrally process FedWire, ACH, SWIFT, FedNow and RTP payments on this operating system using Finzly’s payment hub. As they integrate with the bank’s core, they will be able to provide products in trade, treasury experience, payments, and BaaS.
Finzly’s mission is to provide digital solutions that enable banks to offer innovative services and products to increase the digital economy’s market opportunities. FinzlyOS delivers a whole world of endless possibilities. The firm and its significant products take the spotlight frequently because of their unique features. They are simple but powerful and help customers to innovate quickly. The core platform of Finzly is cloud-based, API-enabled, real-time and modern, allowing banks to perform better in various sectors. The company has offices in Pune and Chennai in India and is based in North Carolina, US.
Finzly celebrated its tenth anniversary in The Hilton at Charlotte Airport in the U.S. between the 8th to 10th of June in 2022. It was attended by many bank leaders from various parts of the U.S. The conference also included industry doyens and subject matter professionals to participate in the three-day event of educational sessions and interactive discussions on bank innovation and other trending topics.
Brett King, the author of the best-selling book Bank 4.0 on bank transformation, delivered a keynote at the 10th-anniversary conference. He emphasized the need for cultural change to cope with the technology’s explosive infusion through digital C-suites in banks. The managing director of Cornerstone Advisors, John Venzon, spoke about aligning the business model, TOM. He also stated that its vision required validation as it turns out to be emotional, qualitative and fussy most of the time.
Key Executives
Finzly’s executive board has the following board members.
- Murthy Balusu – CTO
Finzly’s founding partner is Mr Murthy, CTO, who is responsible for streamlining the customer-related processes and building various platforms of the company. Murthy holds 13 years of experience in I.T. and is a pioneer in planning, designing, implementing, testing and deploying server/client applications in several business sectors. He believes in the potential of open-source development and has participated in numerous open-source projects since the start of his career.
- Aarthie Ramachandran – COO
Aarthie is the V.P. of Business Operations and oversees the development/business processes, release management, offshore, customer implementations, operational risks and other general operations. Joined in 2019, she heads the Legal & Finance, H.R. and supervises technology operations. Aarthie was leading the Portfolio Operations and Program Management at TIAA-CREF previously before joining Finzly.
- Booshan Rengachari – Founder & CEO
Booshan is the CEO of Finzly and founded it in 2012. With a bold vision to develop banking technology and provide financial services in an embedded, connected and real-time ecosystem, Booshan is currently serving as a board member of the U.S. Faster Payment Council. He is also a member of the Faster Payments Task Forces, and there he evaluates the approaches to implement a faster and more secure payment capability.
Products & Services
Finzly efficiently and securely manages every end-to-end transaction of documentary collections, standby L.C.s, and commercial L.C.s.
Documentary Collections
Finzly manages and processes incoming and outgoing documentary collections, completes the lifecycle of collections, and auto-generates cover letters through customizable templates.
Standard LCs
Finzly manages and processes incoming and outgoing standby L.C.s, fees, payments, the complete lifecycle of L.C.s and debit advice via SWIFT integration and customizable templates.
Commercial LCs
Finzly manages and processes the export and import of L.C.s, payments, advising L.C.s, and complete life cycle related to core banking, discounting and SWIFT.
Participations
Finzly manages syndicated transactions (purchased or sold) for payable/receivable drawdowns, fees and letters of credit.
Company Reviews
- Finzly received the “Best Enterprise Payments Solution” award for Payment Galaxy at the 2020 Finovate Awards.
- Finzly was one of the finalists in Best Cross Border Payments Solution and Paytech Partnership in the Paytech Awards 2022.
- Finzly’s partnership with Lead Bank and cross-border solution FX STAR has been recognized for innovation in financial services and payment excellence.
Related News
Finzly’s Payment Processing Sector Powers Baas Platform of Mode Eleven
June 21, 2022
Finzly Inc. announced that Hulett Bancorp had chosen Finzly’s modern payment hub technology to power up all its offerings. The firm’s payment hub permits banks to offer a single API to fintech partners for every payment rail. The hub is prewired to settle the FedNow network and effortlessly turn it on whenever available. The bankers and customers enjoy an excellent unified payment experience by receiving and sending the payments on Fedwire, ACH, SWIFT and RTP networks.
Financial Services Company Cannabis Gets Delivered to Banking Solutions of Lead Bank January 3, 2022
Finzly announced that the financial service provider, PointChain, for the cannabis industry was active in offering banking service solutions for Lead Bank. Partnering with PointChain, Finzly will be able to provide innovative business and consumer marketplace solutions to Lead Bank and keep track of the payments, debit requests and send payments.
Finzy CEO Selected as One of the Members of the U.S. Faster Payments Council’s Board Advisory Group
April 26, 2021
Finzly announced that Booshan Rengachari, the founder and CEO of the firm, has become a member of the Advisory Group of Faster Payment Council’s Board in the U.S. Rengachari will be supporting the FPC in response to emerging trends in payments and advising the staff and board of directors in FPC on perspectives beyond the ones that are represented in the panel.
Best Enterprise Payments Solution Award for Finzly
September 22, 2020
Finzly, the fintech provider of foreign exchange, modern banking applications, digital account opening and trade finance, was awarded at the 2020 Finovate Awards for Payment Galaxy, with the “Best Enterprise Payments Solution”.
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