Pacific Western Bank Rolls Out Finzly for FX Business
Posted by Colin Lambert. Last updated: June 10, 2021
Pacific Western Bank has gone live with Finzly’s FX Star platform.
The roll out will allow the bank’s clients to execute FX transactions on their schedule, utilise multi-currency accounts to purchase foreign currencies in bulk and initiate payments when ready. They are also able to self-administer their internal users, manage permissions and set limits.
The deployment streamlines the pricing, trading, risk management, settlement processing, confirmations, matching, accounting, compliance, reporting and nostro reconciliation of Pacific Western Bank, Finzly says, adding the cloud-based platform connects with the bank’s core system using plug and play architecture. The platform offers configurable workflows, micro-services, distributed computing, “in-memory” data grids, “drag and drop” reporting and real-time monitoring.
“As part of our strategic push to partner with fintechs, we selected Finzly’s FX Star platform, given its dynamic user interface and rich set of features that enhance our foreign exchange capabilities on behalf of our clients,” says Mark Yung, EVP, COO of Pacific Western Bank.