Finzly, a Fintech that aims to provide banking services for both regulated banks, neobanks, Fintechs, etc., has announced the launch of an embedded banking service.
Finzly completed a funding round in late 2023, raising $10.05 million in a Reg D offering.
In a public release, Finzly said it had launched a new solution entitled Account Galaxy, which it described as “a solution that provides the tools and technology needed by banks of all sizes to participate in the emerging embedded banking segment.”
Finzly said that it was already providing services to banks, pointing at Finzly Connect APIs. The company said that Quaint Oak Bank, a Pennsylvania-chartered savings bank, is using its services.
Booshan Rengachari, Finzly founder and CEO, said Account Galaxy is a “game-changing solution” for banks.
“With Account Galaxy, banks can cost-effectively enable the integration of banking services into corporate systems and non-bank platforms, unlocking new opportunities for growth and innovation.”
Finzly has already been offering various services for financial services firms including multi-rail payment for traditional payments on ACH and wires, instant payments on FedNow and RTP, foreign exchange, trade finance, compliance, and more.