Rabobank Uses Finastra for Cross-border Payments

Finastra announced that Rabobank has selected the global payment services hub from Finastra to centralize cross-border payments. The Netherlands-based bank is implementing the Finastra global payment and money transfers hub solution in order to enhance its ability to respond to customer demand and industry developments and realize improved payments infrastructure and reduced cost of ownership. The solution enables Rabobank to consolidate legacy payment operations, simplify operations, and reduce operating expenses. A rules engine will provide the flexibility needed to add new functionality to respond to changing industry and customer requirements quickly and easily.

The Finastra solution is able to meet a majority of the bank’s needs out-of-the-box, with minimal customization. However, additional features and functionality can easily be added to meet the bank’s evolving needs. For example, the solution is compatible with SWIFT’s global payments innovation (gpi) service. These capabilities and more ensure that the bank’s investment will be future-proofed.

“After careful consideration and analysis, Rabobank found the global payment services hub to be able to meet our cross-border payments requirements right away,” says Heimen Schuring, Head of Channel Support & Payment Engine, Rabobank. “We look forward to replacing legacy systems with a single solution that not only meets our current needs, but can also expand to satisfy future demand.”

“We are excited that Rabobank has selected our global payment services hub for cross-border payments,” says Mikael Lindh, Head of Payments Sales, EMEA, Finastra. “Financial institutions today face significant challenges, including pressure to increase efficiency while reducing cost. However, many are realizing that the right solution can help them meet these challenges, including providing more robust cross-border payments and improved capabilities.”