Jefferson Bank Partners with Finastra to Transform Instant Payments

Jefferson Bank, a prominent independent bank, has announced an expanded partnership with Finastra, a leading global FinTech company. This collaboration aims to revolutionize instant payments for Texans by leveraging Finastra’s cutting-edge technology, as stated in Fintech Global News.

Through this partnership, Jefferson Bank will modernize its payments infrastructure by adopting Finastra’s cloud solution, Payments To Go. This will enable Jefferson Bank to quickly implement the FedNowSM service, ensuring 24/7 availability of instant payment services and enhancing its digital payment offerings.

Jefferson Bank is known for its exceptional banking services, focusing on personalized customer experiences and community values. Finastra, on the other hand, is a powerhouse in the FinTech space, offering innovative financial software solutions. Their Payments To Go solution, deployed on Microsoft Azure’s cloud, exemplifies the agility and innovation Finastra brings to the financial industry.

By partnering with Finastra, Jefferson Bank will be able to deliver Real-Time Payments (RTP TCH) and FedNow services efficiently, meeting 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.

Sarah Booker, Senior Vice President and Deposit and Card Operations Manager at Jefferson Bank, expressed her appreciation for Finastra’s technology, stating, «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, highlighted the importance of providing financial institutions with the tools to stay competitive in an evolving market. He stated, «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.»

This partnership between Jefferson Bank and Finastra signifies a significant step forward in the digital transformation of banking services in Texas, paving the way for enhanced customer experiences and streamlined payment processes.