Synovus announced the introduction of Synovus Accelerate FX, an end-to-end, innovative FX solution to drive the expansion of international banking services. Synovus Accelerate FX provides foreign exchange payments and trading services with convenient access and management through the Synovus Gateway commercial banking portal.

Synovus Accelerate FX is supported by Finzly, a FinTech provider of modern banking applications for payments, foreign exchange, trade finance, and BaaS. Finzly is also an innovator in payment processing, offering a payment hub that is readily connected to all domestic and international payment networks.

“With Synovus Accelerate FX, we’re excited to continue organizational investment and active expansion of our treasury management business and bring friction-free customer journeys through a robust tech stack at the bank,”

“Offering world-class global treasury solutions, Synovus Accelerate FX and international payments are at the forefront of our transformation initiatives. Synovus Accelerate FX anticipates the rapidly evolving requirements of organizations to accelerate foreign exchange and payments, improve the cash conversion cycle and make better business decisions.”

                     Katherine Weislogel, head of treasury and payment solutions at Synovus.

With Synovus Accelerate FX, clients can handle their needs for international banking and their exposure to foreign currencies on a cutting-edge, cloud-native, API-first platform. Clients can safely and securely trade their foreign exchange through a self-service web interface quickly, simply, and affordably without having to speak with a banker.

The platform also provides multicurrency accounts for large foreign currency purchases, making it simple for companies to make and receive payments internationally on a regular basis. Clients of Synovus additionally profit from practical features like payment initiation, internal user self-administration, permissions, and restrictions.

“We couldn’t be more excited to make Synovus Accelerate FX a strategic and holistic solution to offer best-in-class international payment experience and FX services to our clients,”

“Synovus Accelerate FX provides customer success on the front end and automation on the back end. It’s a simple and intuitive experience, filling all the gaps to offer a friction-free customer and banker experience.”

                             Dr. Jeffrey Beisler-Snell, head of international banking at Synovus.

The new FX solution streamlines the Nostro reconciliation, matching, confirmations, matching, pricing, trading, risk management, settlement processing, compliance, reporting, and matching processes. Additionally, the platform effortlessly integrates with Synovus Bank’s main system as well as systems from other parties including AML, OFAC, and market data.

Drag-and-drop reporting, distributed computing, quicker in-memory data grids, configurable workflows, and real-time monitoring are all used by Synovus Accelerate FX.

“We’re delighted to be the FX platform of choice for Synovus Bank – an institution that puts customer experience and efficiency at the epicenter,”

“Finzly has simplified the trading and payment of foreign currencies with a seamless user experience. The platform combines technical expertise and cloud-native tools to deliver a scalable, efficient and affordable solution, enabling financial institutions to manage post-trade processing of confirmations, compliance, payments, settlements, ledger postings and reporting. As we continue this trajectory, we’re certain Synovus Bank’s clients will enjoy a superlative international banking experience.”

                                                         Booshan Rengachari, founder and CEO of Finzly.