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Finastra and Visa Announce Global BaaS Offering Integrating Visa Direct

“Finastra and Visa (NYSE: V) today announced a Banking as a Service (BaaS) collaboration to co-develop new functionality on its Payments Hub solutions and implement Visa Direct2 – which provides access to more than two billion accounts through push to account offerings. The new capability will give Finastra’s bank customers around the world access to cross-border payouts capabilities for small- and medium-sized businesses, and individuals, in multiple currencies and countries. “This BaaS partnership will allow banks to offer their customers greater choice in how to route cross-border payments, with banks essentially embedding Visa products,” said Barry Rodrigues, EVP Payments Business Unit at Finastra. “We are excited to partner on this proposition with Visa as it provides a very attractive solution for banks seeking to help increase overall customer satisfaction and loyalty through a transparent and cost-effective digital payments option.””