“We see our mission as helping community banks and credit unions better compete in the marketplace by offering services and capabilities on par with – and even exceeding – those of much larger institutions,” Finzly CEO and founder Booshan Rengachari said. “By partnering with an industry leader like Derivative Logic, our financial institution customers, and their own commercial borrowers, benefit from access to world-class hedge advisory services that are proven to positively impact their balance sheets.”
Finzly’s open, cloud-based bank operating system, BankOS, enables financial institutions to integrate and offer a wide variety of third-party services. Courtesy of this partnership with Derivative Logic, the company will enable banks to offer interest rate hedge capabilities to their commercial clients. Derivative Logic Managing Director Jim Griffin called these services “a true strategic differentiator for banks and credit unions” when it comes to attracting commercial customers.
“Through our partnership with Finzly, we help small-to-mid-size financial institutions overcome the complexity of offering these capabilities as we advise and assist our bank customers with pricing, swap documentation, compensation plans, negotiations with dealers, hedge accounting as well as assist with borrower-facing processes,” Griffin said.
Finzly’s partnership announcement is only the latest in headline-making news from the Charlotte, North Carolina-based fintech. Since its debut at FinovateFall a year ago, the company has partnered with a regional bank in California to drive the institution’s international banking services, teamed up with Arvest Bank to streamline the Arkansas-based community bank’s trade finance operations, and announced the availability of its contactless consumer digital account opening solutions.
See Finzly for yourself as the company returns to the Finovate stage for FinovateFall Digital, September 14 through 18. Visit our registration page today and save your spot for our latest all-digital fintech event.