Veritex Community Bank Selects Finzly Payment Hub for BaaS Capabilities
In December 2022, Veritex Community Bank chose Finzly's Payment Hub to modernize and consolidate its payment infrastructure under a single cloud-native platform. The initial deployment covers ACH and Fedwire processing, with planned expansion to support RTP and FedNow real-time payment rails. The partnership also includes embedded treasury services delivered through Q2's digital banking platform.
Critically, the deal provides Veritex with BaaS capabilities via Finzly's unified API, enabling the bank to offer payment and banking services to fintech partners. Finzly's platform allows Veritex to manage multiple payment rails through one integration point, reducing operational complexity. Financial terms were not disclosed.
The partnership illustrates how community banks are leveraging fintech infrastructure to compete in BaaS and real-time payments alongside larger institutions.
- Demonstrates community banks using fintech payment hubs to enter the BaaS market and serve fintech partners
- Positions Veritex for FedNow readiness and real-time payment competition ahead of 2023 launch