SOFTWARE SOLUTIONS
JEFFERSON BANK EXPANDS PARTNERSHIP WITH FINASTRA TO BOOST ITS INSTANT PAYMENTS STRATEGY
Finastra has announced that Jefferson Bank , an independent , bank serving communities across Texas , has selected Finastra Payments To Go , a payments-as-a-service solution for its new instant payments services . The agile , resilient , cloud-based payments solution will help Jefferson Bank to efficiently deliver both RTP TCH and FedNow services 24 / 7 , and accommodate the rapidly growing volume of instant payment transactions .
“ We have worked with Finastra for many years and deeply value its team ’ s proven experience implementing instant payments services not just in the United States , but across the globe ,” said Sarah Booker , Senior Vice President , Deposit and Card Operations Manager at Jefferson Bank . “ Finastra Payments To Go gives us access to the same payment processing technology used by big banks , enabling us to provide our customers with state-of-the-art payment services in addition to the experience they have come to expect from us .”
Deployed on Microsoft Azure ’ s cloud , Payments To Go provides Jefferson Bank with the agility needed to offer new and innovative payment rails , including RTP and FedNow Service . Both RTP TCH and FedNow services , available through Finastra ’ s Financial Messaging Gateway , connect directly to their respective networks for easy , frictionless , and more affordable access to the payment rails . As one of the first software providers in the industry to complete certification for the FedNow Service at launch , Finastra is well-positioned to provide financial institutions with the ability to deliver instant payment services around the clock , with more than 200 customers across the US able to launch the service through its solutions .
“ As consumer demand in the market continues to evolve , it ’ s crucial that financial institutions of all kinds have the solutions they need to stay competitive , especially as we ’ re seeing an increase in the pace of change ,” said Barry Rodrigues , EVP of Finastra ’ s Payments Business Unit . “ Our payments hub provides Jefferson Bank with the tools it needs to bring all payment services together , enabling the team to embrace open finance while attracting and retaining customers . We ’ re pleased that the team at Jefferson Bank continues to trust Finastra as they work to futureproof their organisation .”
Over time , the bank will migrate its wire services from Finastra PayPlus Connect , fully consolidating all payment services under one , comprehensive Finastra solution . As a demonstration of Finastra ’ s commitment to open finance , financial institutions can now subscribe to Payments To Go through Microsoft Azure Marketplace for convenient billing through one single invoice . �
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