First Federal Partners with Acceleron to Modernize International Wire Operations

First Federal, a community bank serving the Willamette Valley for over 100 years, has partnered with Acceleron to modernize its international wire operations. The partnership aims to streamline the bank’s processes and enhance customer service, particularly in the realm of foreign exchange (FX) wires.

Jordan Herron, Vice President of Deposit Operations at First Federal, expressed the bank's commitment to providing prompt and accurate FX wire services.

Before partnering with Acceleron, First Federal faced challenges with limited access to real-time support when issues arose. This could make it difficult for the bank’s operations team to quickly resolve exceptions or answer questions about pricing and reconciliation. The partnership with Acceleron has addressed these issues by providing a direct point of contact for the bank’s team.

Acceleron’s support has already shown its value in reducing FX wire exceptions due to automated validations. The bank now has clear visibility into FX spreads and a daily settlement report, which has improved the operations team’s understanding of international wire activity. Elizabeth Downey, Chief Operating Officer at Acceleron, emphasized the importance of quick response times and a dedicated team.

The partnership with Acceleron is part of First Federal’s broader modernization roadmap. The bank has recently implemented online account opening and upgraded its consumer online banking platform, with an upcoming business banking platform upgrade. First Federal plans to explore online wire capabilities for its customers as part of this roadmap. The ability to maintain its existing provider as a contingency during the transition has given the bank added flexibility and redundancy.

First Federal’s partnership with Acceleron is not just about technology; it is about building a true partnership.

Acceleron, a modern correspondent banking platform, empowers community banks and credit unions to automate international wire transfers, capture non-interest income, and compete more effectively with big banks. With a foreign exchange marketplace and currency conversion engine, Acceleron’s API-first infrastructure helps institutions turn cross-border payment flows into efficient, revenue-generating opportunities. Serving over 200 financial institutions and facilitating more than $1 billion in international payments annually, Acceleron’s correspondent banking services and international payment automation solutions are pre-integrated seamlessly with Fiserv Payments Exchange, Aptys, Pathfinder WITS, and other leading payments platforms.