Jefferson Bank in Texas taps Finastra for Payments To Go solution

Jefferson Bank Expands Partnership with Finastra for Instant Payments:

1. Partnership Expansion:
   • Jefferson Bank, an independent bank based in San Antonio, Texas, has expanded its partnership with UK-headquartered vendor Finastra.
2. Solution Selection:
   • The bank has selected Finastra’s Payments To Go cloud-based solution to power its instant payments services.
3. Payments To Go Features:
   • Payments To Go is a Payments-as-a-Service offering that will connect Jefferson Bank with the necessary payment rails for services, including FedNow and Real-Time Payments (RTP).
4. Cloud Deployment:
   • The solution will be deployed on the Microsoft Azure cloud platform.
5. Payment Processing Technology:
   • Jefferson Bank sees Payments To Go as a solution that provides access to the same payment processing technology used by larger banks.
6. Wire Services Migration:
   • As part of the agreement, the bank will migrate its wire services from Finastra’s PayPlus Connect to Payments To Go, consolidating all payment services in one platform.
7. Consolidation Benefits:
   • Barry Rodrigues, EVP of Finastra’s payments business unit, notes that the technology will connect the bank with tools to bring all payment services together, enabling the team to embrace open finance and enhance customer attraction and retention.
8. Jefferson Bank Overview:
   • Established in 1946, family-owned Jefferson Bank offers a range of financial services, including business, personal, and commercial banking, wealth management, mortgage lending, and payments.