Jefferson Bank enhances instant payments with Finastra’s cutting-edge technology

Jefferson Bank enhances instant payments with Finastra's cutting-edge technology

Jefferson Bank, an esteemed independent bank, has extended its partnership with Finastra, a global FinTech leader, offering a wide range of software solutions designed to meet the ever-evolving needs of the financial services industry. Together, these companies are set to revolutionise instant payments for Texans.

The collaboration between Jefferson Bank and Finastra aims to modernise Jefferson Bank’s payments infrastructure significantly. By adopting Finastra’s cloud solution, Payments To Go, Jefferson Bank will be able to quickly implement the FedNowSM service and enhance its digital payment offerings, ensuring 24/7 availability of instant payment services.

Jefferson Bank has a long-standing reputation for providing top-notch banking services, focusing on personal customer experiences and community values. Finastra, a powerhouse in the FinTech space, delivers innovative and resilient financial software solutions, including payments technology that rivals that of major banks. Their Payments To Go solution, deployed on Microsoft Azure’s cloud, exemplifies the agility and innovation Finastra brings to the financial industry.

This partnership enables Jefferson Bank to deliver Real-Time Payments (RTP TCH) and FedNow services efficiently, addressing the growing demand for instant payment transactions. Finastra’s Payments To Go, combined with their Financial Messaging Gateway, offers seamless access to these payment rails, facilitating easy and cost-effective transactions.

Finastra’s commitment to open finance is further demonstrated through the availability of Payments To Go on the Microsoft Azure Marketplace, allowing for simplified billing processes. Jefferson Bank plans to migrate its wire services to this comprehensive solution, consolidating all payment services under Finastra’s technology to future-proof their operations.

Jefferson Bank Senior Vice President, Deposit and Card Operations Manager Sarah Booker said, “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.

“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.”

Barry Rodrigues, EVP of Finastra’s Payments Business Unit, remarked, “s 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. Our payments hub provides Jefferson Bank with the tools it needs to bring all payments 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 organization.”

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