Metropolitan Commercial Bank Partners with Finzly for Advanced Payment Processing

Rhea-AI Summary

Metropolitan Commercial Bank announces partnership with Finzly to transform payment processing operations

Positive

• Metropolitan Commercial Bank aims to transform its payment processing operations on ACH, Fedwire, and FedNow
• The partnership will offer customers a seamless banking experience
• The Bank plans to implement customized payment solutions for its diverse business clients

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• None.

The partnership will offer customers a seamless banking experience

NEW YORK--(BUSINESS WIRE)-- Metropolitan Commercial Bank (the “Bank”) is pleased to announce a partnership with leading cloud-based payments platform, Finzly. By leveraging Finzly's modern payment hub, Metropolitan Commercial Bank aims to transform its payment processing operations on ACH, Fedwire, and FedNow. The Bank recognizes the importance of offering innovative and secure payment solutions to meet the changing needs of its customers.

"We selected Finzly for its ability to cater not only to our business customers and consumers but also to foster robust partnerships within the payments industry. Through Finzly's advanced payment infrastructure, we now lead the way in delivering advanced payment experiences, positioning us at the forefront of financial innovation."

- Nick Rosenberg, EVP, Head of Global Payments Group, at Metropolitan Commercial Bank

In addition, the Bank plans to implement customized payment solutions that cater to the specific needs of its diverse business clients by integrating Finzly's innovative business banking platform.

"We are deeply honored to be chosen as Metropolitan Commercial Bank's payment solutions partner," said Booshan Rengachari, Founder, and CEO of Finzly. "Our commitment is steadfast in empowering the bank to further its payment capabilities and deliver truly exceptional experiences to their diverse clientele."

About Metropolitan Commercial Bank

Metropolitan Commercial Bank (the “Bank”) is a New York City based full-service commercial bank. The Bank provides a broad range of business, commercial and personal banking products and services to small businesses, private and public middle-market and corporate enterprises and institutions, municipalities and local government entities, and affluent individuals.

Metropolitan Commercial Bank’s Global Payments group is an established leader in domestic and international fintech services, including: providing digital payments settlements; providing a gateway to payment networks; acting as a custodian of deposits; providing merchant acquiring services; acting as a global settlement agent, and as a leading national issuer of third-party debit cards. The Bank continues to grow its presence as a valued, trusted and innovative strategic partner across fintech, payments and money services businesses worldwide.

Metropolitan Commercial Bank finished in the top ten of S&P Global Market Intelligence’s annual ranking of the best-performing community banks with assets between $3 billion and $10 billion for 2022 and among the top ten top-performing community banks in the Northeast region for 2022. The Bank is also a member of the Piper Sandler Sm-All Stars Class of 2022.

Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan and Boro Park, Brooklyn in New York City and Great Neck on Long Island in New York State.

Metropolitan Commercial Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB).

For more information, please visit the Bank’s website at MCBankNY.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231017651538/en/

212-365-6721

IR@MCBankNY.com

Source: Metropolitan Bank Holding Corp.

FAQ

What is the partnership between Metropolitan Commercial Bank and Finzly about?

The partnership aims to transform payment processing operations and offer a seamless banking experience.

What payment solutions will be implemented by the Bank?

The Bank plans to implement customized payment solutions for its diverse business clients.

Who is the CEO of Finzly?

The CEO of Finzly is Booshan Rengachari.