Finzly combines FX payment platform with Corpay's real-time FX rates
Finzly, Inc. ("Finzly"), a leader in innovative payment and financial solutions, today announced an agreement with Corpay, Inc. Cross-Border business, (NYSE: CPAY) a global leader in corporate payments, to collaborate on a joint offering that brings together Finzly's FX payment platform and Corpay's real-time FX rates.
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This collaboration provides a unique offering to financial institutions and their business clients, enabling FX transaction capabilities that are seamlessly integrated with many payment rails. The combined solution will offer convenient and intuitive FX capabilities, covering more than 200 international markets.
Businesses that need to send and receive international payments commonly use multiple siloed banking systems to make these transactions. This tends to increase the complexity and the need for manual redundant processing. As a result, these transactions can be error-prone and slow to complete.
By integrating Corpay Cross-Border's platform with Finzly's FX payment platform, international payments processing can be more automated, and seamlessly integrated with other domestic accounts and payment rails. Finzly's unified API makes it easy to send international payments via Swift.
"We are thrilled to partner with Finzly to empower financial institutions and their clients with seamless access to real-time FX rates, spanning over 200 international markets, and automated processing capabilities. These advancements are responsive to the growing complexity of cross-border transactions, setting us apart with real-time rates and extensive global reach," said Brad Loder, Chief Marketing Officer, Corpay Cross-Border Solutions.
"Together we are bringing to market a modular FX solution with excellent synergies that allows banks of all sizes to compete with large global banks, provide competitive FX rates and superior customer experience in international payments. Additionally, real-time FX rates can help financial institutions to manage and mitigate FX risk more effectively," said Booshan Rengachari, Founder and CEO of Finzly.