First Horizon Announces ClearPath Fast Payments Platform in Partnership with Interchecks

Rhea-AI Summary

First Horizon National Corp. (NYSE:FHN) has launched ClearPath Fast Payments in partnership with Interchecks, enhancing immediate payments for treasury management clients. This new service will facilitate faster payments for various applications like wages and insurance claims. The collaboration with Interchecks aims to meet the growing demand for convenient payment options while maintaining traditional methods like direct deposits and checks. The initiative follows First Horizon's merger with IBERIABANK, allowing broader market access and innovation in payment services.

Positive

• Launch of ClearPath Fast Payments enhances service offerings.
• Partnership with Interchecks allows fast and convenient payment options.
• Ability to accommodate both digital and traditional payment methods.

Negative

• None.

MEMPHIS, Tenn., Sept. 14, 2020 (GLOBE NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN) announced today that it will be launching ClearPath Fast Payments in partnership with Interchecks, an emerging fintech leader. This partnership will provide an innovative platform that delivers immediate payments capability to treasury management clients, making fast and convenient payments more accessible to businesses.

“Following our merger with IBERIABANK, we are able to bring this industry-leading payment innovation to a broader market and better serve our clients,” said Somesh Kasibhatla, Head of Treasury Product Management.  “Whether receiving wages, commission payouts, insurance claim payments, or an incentive for renewing with your utility service, businesses and consumers want to be paid as quickly and conveniently as possible. Leveraging Interchecks’ platform allows First Horizon to offer the latest digital payment methods while still accommodating payees who choose to receive a direct deposit or even a paper check.”

Interchecks’ platform makes it easy for First Horizon to continue a 150+ year tradition of innovation and client service. “We are very excited to work with First Horizon,” said Dylan Massey, Interchecks co-founder and CEO. “We started with a commitment to offset Wire and ACH payments with Visa Direct in an effort to speed-up funds availability, and the project grew from there. The First Horizon team socialized this service with their clients and found strong demand for an application that gave more efficient payment choices to their payment recipients. We’re happy to do our part to ensure that First Horizon maintains one of the best immediate payment services on the market.”

“Interchecks is an ideal fintech partner to help us quickly meet the growing demand for immediate and convenient payments,” said Donna Kasmiersky, Treasury Management Executive of First Horizon Bank. “We saw an opportunity to be one of the leading Banks in faster payment services and Interchecks helped us turn that vision into reality.”

For more information on First Horizon’s ClearPath Fast Payments, please visit our website.

About Interchecks
Founded in 2016, Interchecks Technologies, LLC is a privately held payout startup with offices in Boca Raton, Florida and Brooklyn, New York. Interchecks’ goal is to simplify and enhance payouts and 1099 compliance for organizations around the world. Their suite of on-demand payout options include instant deposit, direct deposit, digital check, paper check, and more. Trusted by banks, fintechs, enterprise and marketplace platforms, the service is available through a turnkey Payer Portal or a simple API integration that can be white-labeled and bundled into a Payer’s own user experience.  For further information on Interchecks, please visit www.interchecks.com or linkedin@gointerchecks. 

About First Horizon  
First Horizon National Corp. (NYSE:FHN), with $86 billion in assets, is a leading regional financial services company, dedicated to strengthening the lives of our associates, clients, shareholders, and communities. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates nearly 500 bank locations in 12 states across the Southeast. With more than 288 years of combined First Horizon Bank and IBERIABANK financial experience, the Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon is recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. bank. More information is available at www.FirstHorizon.com
FHN-G

CONTACT:  Media Relations, Beth Ardoin, (337) 521-4701

FAQ

What is ClearPath Fast Payments by First Horizon?

ClearPath Fast Payments is a new service launched by First Horizon in partnership with Interchecks to provide immediate payments capability for treasury management clients.

How does First Horizon's partnership with Interchecks benefit clients?

The partnership allows First Horizon to offer innovative payment solutions, making it easier for clients to receive payments quickly and conveniently.

What prompted the launch of ClearPath Fast Payments?

The launch follows First Horizon's merger with IBERIABANK, enabling the company to bring innovative payment solutions to a broader market.

What types of payments can ClearPath Fast Payments handle?

ClearPath Fast Payments can handle various payments including wages, commission payouts, and insurance claim payments.

When was ClearPath Fast Payments launched?

ClearPath Fast Payments was announced on September 14, 2020.