Salve Financial Hub signs for Finastra Essence to reduce payment delays
Salve Financial Hub SpA (Salve FH) has partnered with core banking vendor Finastra as it looks to streamline corporate payment processing.
Salve FH signs for Finastra Essence
The European payments processor, which is based in San Marino, will use Finastra Essence to process high-value payments for its corporate clients and their beneficiaries.
The start-up will also utilise the Software-as-a-Service (SaaS) solution to support its client onboarding and origination activities and to deliver mobile and online banking services through the pre-integrated Digital Engagement Hub.
Finastra’s tech will enable the company to streamline compliance checks and counteract payment delays resulting from overcompliance while adhering to regulatory changes.
As Salve FH seeks to grow, it plans to make use of the solution’s microservices architecture, including Finastra’s APIs, to deploy new services and establish integrations with custodian and central banks.
Citing the need for “a flexible solution” to remedy late payments, Salve FH CEO, Massimo Ferracci, anticipates that Finastra Essence will “help us adapt quickly to new regulatory and customer demands and implement more applications as we grow”.
“This is a strategic move that allows us to help more customers reduce the time and costs of delayed transactions resulting from overcompliance.”
Adding to this, Siobhan Byron, EVP, universal banking at London-based Finastra, recognises why a balance between compliance and speed is “crucial” for a start-up like Salve FH, as the company works to remove friction from payments services “without compromising security or fraud prevention”.
Salve FH joins Loughborough Building Society, BKN301 Group and Melton Building Society on the list of companies to adopt Finastra’s digital banking solutions this year.
