From dropdown to go-live, a quick start implementation guide to activate Acceleron’s modern correspondent banking software

Foreign exchange (FX) services are no longer just for the big banks. Today, community financial institutions can turn their existing wire flow into a strategic source of non-interest income by bringing FX services in-house, delivering greater convenience and competitive pricing to customers. With Acceleron's international payment technology, banks and credit unions can capture foreign exchange fees, and drive down FX rates by routing transactions through a marketplace of multiple correspondent banks.

What’s more, if your institution uses Fiserv’s Payments Exchange (PX) or Braid, integrating Acceleron’s FX solution is remarkably simple and requires zero development work.

Here’s how the process works, step by step:

Step 1: Initial Consultation

We start with a one-on-one conversation to understand your institution’s current wire processes, correspondent bank relationships, and international payment needs. We will then discuss solutions to help automate and streamline processes. Get a strategic overview of rising demand for international payments, and learn how automating wires can boost your service offerings, customer retention, and fee income. Here's a video that runs through the steps:

Step 2: Fast, No-Cost FX Implementation

One of the biggest advantages of working with Acceleron? Implementation is fast, cost-free, and already built into your existing infrastructure. Our FX solution is fully pre-integrated with Fiserv PX, so there’s no technical lift required — no coding, no custom setup. We’ve done the heavy lifting so you don’t have to. 

Enabling FX is as simple as flipping a switch, no custom configuration needed. Acceleron will oversee and guide the process at every stage, ensuring a hassle-free experience.

Here’s how to activate FX in PX:

• Select Acceleron FX from the PX dropdown menu to submit a request to Fiserv to turn on Acceleron FX. (Just send your FI name and routing number.)
• Acceleron coordinates with Fiserv to manage the entire setup.
• A dedicated Fiserv PX project manager will schedule a kickoff call.

We also assist with:

• Setting up your authorization codes
• Defining your FX revenue G/L accounts
• Creating FX profiles to establish your spread rates
• Setting up secondary review rules to match your institution’s compliance needs

Step 3: Training & Personalized Support

A smooth transition is key to success, which is why we provide comprehensive training and ongoing support:

• Your staff will receive thorough training tailored to FX operations within Fiserv PX to ensure effective adoption of the new system.
• Fiserv provides detailed PX documentation and best practices to assist your team in navigating the FX platform efficiently.
• Ongoing support from both Payments Exchange and Acceleron is available from real humans! No bots, just experts who know your system.

Step 4: Testing & Go-Live

Before launching, we conduct rigorous joint testing within PX to guarantee optimal performance.

• Your FI operations team, PX, and Acceleron will work together to execute a test transaction to validate setup and ensure everything runs smoothly.
• Once testing is successful, you’re officially LIVE!
• Our team remains available for ongoing support, troubleshooting, and access to dedicated PX and Acceleron resources.

What's it like to work with Acceleron?  Hear it from the clients who work with us everyday:

Ready to Get Started and Activate FX?

Integrating FX services through Fiserv Payments Exchange is simple, scalable, and designed to drive growth. With no development work, no implementation cost, and hands-on guidance from Acceleron, you can start offering international payments faster than you think. Reach out to us and we’ll walk you through it.  

Read more about how to earn non-interest bank revenue from international payment automation:

 

Non-interest Income: Maximizing Bank Profitability Through International Payments

Acceleron builds patented software that allows community banks and credit unions to conduct cross-border payment transactions profitably through a foreign exchange marketplace and currency conversion tool. Serving over 200 financial institutions and facilitating more than $1 billion in international payments annually, Acceleron Bank helps small banks generate non-interest income and compete more effectively with big banks. Our digital correspondent banking solutions and international payments automation integrate seamlessly with Fiserv Payments Exchange and other leading payments platforms, ensuring quick API integration for banks.