Jefferson Bank, a prominent financial institution serving communities across Texas, has chosen Finastra’s cloud-based payment solution to modernize its payments infrastructure. This strategic move will facilitate the swift adoption of FedNow SM service and other digital payment solutions, enhancing the bank’s overall payment capabilities.
Finastra announced the partnership with Jefferson Bank, highlighting the selection of Finastra Payments To Go, a payments-as-a-service solution, to support the bank’s new instant payments services. By leveraging this agile and resilient cloud solution, Jefferson Bank will be able to efficiently deliver RTP TCH and FedNow services 24/7, catering to the increasing volume of instant payment transactions.
Sarah Booker, Senior Vice President at Jefferson Bank, expressed the bank’s confidence in Finastra’s expertise in implementing instant payments services globally. She emphasized the importance of providing cutting-edge payment services to customers to meet their evolving needs.
Deployed on Microsoft Azure’s cloud, Payments To Go will empower Jefferson Bank with the flexibility needed to offer innovative payment rails, including RTP and FedNow Service. This will enable seamless connectivity to their respective networks, ensuring cost-effective access to the payment rails.
Barry Rodrigues, EVP of Finastra’s Payments Business Unit, emphasized the significance of financial institutions staying competitive in a rapidly evolving market. Finastra’s payments hub will equip Jefferson Bank with the tools to consolidate all payment services under one comprehensive solution, enabling the bank to embrace open finance and attract new customers.
In the future, Jefferson Bank plans to migrate its wire services to Finastra PayPlus Connect, solidifying its commitment to leveraging Finastra’s holistic payment solutions. Financial institutions can now easily subscribe to Payments To Go through Microsoft Azure Marketplace for convenient billing processes.
Finastra is a global leader in financial software applications and marketplaces, known for its commitment to open finance and collaboration. With a track record of serving over 8,000 institutions worldwide, including 45 of the top 50 banks globally, Finastra continues to drive innovation in the financial services industry. For more information, visit finastra.com.