Finastra and CloudMargin Partner to Deliver Collateral Management as a Service
October 22, 2020 – Finastra, one of the world’s largest fintechs, and CloudMargin, creator of the world’s first and only collateral and margin management solution native to the cloud, today announced a global partnership to deliver an integrated collateral and margin management solution to market participants of all sizes through a Software-as-a-Service (SaaS) model.
October 21, 2020 – Finastra, via its Canadian mortgage business Filogix, has acquired Doorr, a provider of cloud-based point-of-sale mortgage application software used by brokers to improve the mortgage experience. The deal is part of Finastra’s strategic investment in its Filogix mortgage marketplace, connecting consumers to brokers, lenders and many supporting partners to enable a secure mortgage application process.
Finastra Launches Pre-Packaged Payments Solution for Small and Mid-sized Banks
October 5, 2020 - Finastra today revealed Fusion Payments To Go – its payments solution aimed at small and medium-sized banks looking to implement domestic and cross-border payment services in Europe, the US and South Africa.
First Independence Bank Selects Suite of Finastra Solutions to Grow its Retail Business
October 1, 2020 - Finastra announced that First Independence Bank has selected its Fusion Phoenix core, Fusion Digital Banking, Fusion DepositPro and Fusion TotalTransact, as well as a number of other solutions, in order to provide its customers with a robust and fully digital banking experience. As a Community Development Financial Institution (CDFI), committed to serving its local community, the bank will realize operational efficiencies through a more streamlined service, and better serve its customers with modern banking services.
National Bank of Bahrain Selects Finastra to Future-Proof Treasury Business
September 30, 2020 - National Bank of Bahrain is live with the latest version of Fusion Kondor, Finastra’s treasury management solution. The move will enhance and automate the bank’s treasury and trading operations, including price calculations, trader activity monitoring and risk management, enabling it to offer new products to its customers and grow its market share in Bahrain, as well as expand into new markets.
CIH Bank Automates Corporate Banking Services with Finastra
August 10, 2020 - Finastra has announced that CIH Bank, a Moroccan-based commercial bank, has gone live with Fusion Corporate Channels and Fusion Trade Innovation, to digitize its end-to-end corporate banking services. The solutions are automating the bank’s trade and supply chain finance services, providing its corporate customers with access to services online, rather than in-branch.
Finastra Places Risk and Audit Function in the Office of the CEO
August 5, 2020 - Finastra has placed its Risk and Audit function into the Office of the CEO, reflecting the importance of strong governance in a changing landscape. The move is an elevated role for Elona Ruka-Wright, already Chief Risk Officer and Chief Audit Executive at the company.
Uzbekistan’s People’s Bank Selects Finastra to Transform Risk Management Business
July 30, 2020 - Finastra announced today that People’s Bank, a retail and commercial bank in Uzbekistan, is deploying Fusion Risk. The technology will automate the bank’s risk management business, enabling it to become more efficient, whilst managing all types of risk including credit, market, operational, liquidity and interest rate.
Conpend TRADE AI App Goes Live on Finastra’s FusionFabric.cloud
July 28, 2020 - Finastra today announced a new app available on its FusionFabric.cloud open development platform, Conpend TRADE AI. The app builds on the functionality of Finastra’s Fusion Trade Innovation technology to significantly cut document and compliance checking time.
Educational Systems Federal Credit Union Provides its Members with a Superior Digital Experience with Finastra
July 15, 2020 - Finastra announces that Educational Systems Federal Credit Union (FCU), located in Greenbelt, Maryland, has gone live with Finastra’s Fusion Digital Banking (formerly Malauzai) to deliver a superior digital experience capable of satisfying the credit union’s more than 85,000 members.
The Peoples Community Bank Selects Finastra to Modernize its Core and Digital Banking Platforms
July 6, 2020 - Finastra today announced that The Peoples Community Bank is expanding its relationship with Finastra in order to provide its customers with enhanced digital capabilities and speed to innovation.
Finastra Announces Closing of Enhancement Services Business Sale
July 2, 2020 - Finastra has closed the sale of its Canadian-based Enhancement Services business to Sigma Loyalty Group, a provider of enhancement services and marketing programs to Canadian financial institutions and retail partners.
Finastra Launches LIBOR Transition Calculator Service
June 24, 2020 - Finastra announced today the availability of Fusion LIBOR Transition Calculator, a service that enables banks to calculate Alternate Reference Rates (ARR) or Risk-Free Rates (RFR). The calculator service works independently of Fusion Loan IQ, Finastra's commercial lending solution.
Finastra to Sell Enhancement Services business to Sigma Loyalty Group
June 18, 2020 - Finastra today announced that it has entered a definitive agreement to sell its Canadian-based Enhancement Services business to Sigma Loyalty Group, a provider of enhancement services and marketing programs to Canadian financial institutions and retail partners.
Caixa Geral de Depositos Selects Finastra to Transform Treasury and Capital Markets Business
June 16, 2020 - Caixa Geral de Depositos, the largest commercial bank in Portugal, has chosen Finastra to power its end-to-end treasury and capital markets business. It has selected Fusion Kondor, Fusion Risk and Regulatory Reporting as a Service to support this front-to-back-to-risk transformation.
Sterling Federal Bank Selects Fusion Phoenix as the Core to Carry it into the Future
June 15, 2020 - Finastra announced that Sterling Federal Bank (Sterling, IL) has selected Finastra's Fusion Phoenix to support the bank as it expands its business from one focused primarily on consumer banking and mortgages to one with a strong presence in commercial banking.
Finastra and Hundsun Ink Strategic Technology Partnership to Boost Growing Chinese Asset Management Industry
June 8, 2020 - Finastra, a global financial technology firm headquartered in the UK, has today announced a strategic partnership with Hundsun Technologies (Hundsun) to co-develop and deliver a Chinese version of Finastra�s investment management software, Fusion Invest.
Finastra Global Survey Shows Appetite for Open Banking Picking Up Pace Worldwide
May 26, 2020 - Finastra research reveals that 86% of global banks are looking to use open APIs to enable Open Banking capabilities in the next 12 months. In addition, 30% of banks surveyed believe Open Banking is already making a tangible impact in delivering improved overall customer experience.
Finastra Announces Fusion Credit Connect Solution on Salesforce AppExchange and FusionFabric.cloud
May 21, 2020 – Finastra today announced the launch of its Fusion Credit Connect solution on Salesforce AppExchange and Finastra’s FusionFabric.cloud, re-envisioning how relationship managers and borrowers connect and communicate from opportunity to origination, through to closing and booking.
Barwick Banking Company is the Latest Bank to Select Finastra’s Fusion Phoenix Core
May 14, 2020 – Finastra, announced that Barwick Banking Company (Barwick Bank) is the latest community-facing financial institution to choose Fusion Phoenix core to help transform it into a modern, digitally-enabled institution.
Finastra Appoints Gary E. Bischoping, Jr. as Chief Financial Officer
March 18, 2020 – Finastra has appointed Gary E. Bischoping, Jr. as Chief Financial Officer (CFO), effective March 16, 2020. Based at Finastra’s headquarters in London, Gary brings a wealth of technology experience, having recently held the role of CFO at Varian, a mid-cap medical technology US multinational.
Active.Ai makes conversational banking available to Finastra customers via FusionFabric.cloud
March 4, 2020 – Finastra customers can now consume Active.Ai’s conversational AI retail banking app via the FusionStore. Banks and credit unions will be able to quickly deploy AI avatars to engage their customers and members 24x7 in the banking channel of their choice.
Finastra Powers Retail Banking Innovation with Four New Fintech Apps on FusionStore
February 26, 2020 – Finastra today announced the launch of four new retail banking apps on FusionStore, the firm’s app marketplace. Built during Finastra’s first appathon in North America, at the tail end of last year, the apps – which provide innovative saving, spending control and personal finance management services for banks in the US – use open APIs, accessible via the FusionFabric.cloud development platform.
Finastra Brings its Fusion Phoenix Core to the Cloud
February 19, 2020 – Finastra has brought its core banking platform, Fusion Phoenix, to the cloud, with Commerce National Bank & Trust of Winter Park, Florida, and Commencement Bank of Tacoma, Washington being the first US banks to access the core solution via public cloud.
Finastra Extends Medical Insurance Benefits to Partners of LGBTQ Employees in India
February 6, 2020 - Finastra today announced that it has extended medical insurance benefits to partners of its LGBTQ employees in India, as part of its drive to create a diverse and inclusive workplace.
Guotai Junan International Launches Trading Operations in Hong Kong with Finastra
January 30, 2020 - Finastra today announced that Guotai Junan International (GTJAI) has gone live with Finastra’s end-to-end equities derivatives trading and cross-asset risk solution, Fusion Sophis. The move has enabled GTJAI to launch trading operations in Hong Kong following a short implementation, helping to fuel the firm’s growth and maximize market share.
Finastra Strengthens its Position in Israel with New Office Opening
January 27, 2020 - Finastra is investing further in Israel with a new office in Kfar Saba, just outside Tel Aviv. The office, which is home to over 330 employees, offers more space for the Finastra team to grow as the company strengthens its position in the country, and provides an ultra-modern workspace to inspire creativity and facilitate collaboration.
Synopsys and Finastra Partner to Secure Financial Services App Ecosystem
January 22, 2020 - Synopsys, Inc. (Nasdaq: SNPS) and Finastra today announced a partnership establishing an application security validation program for FusionFabric.cloud, Finastra’s open platform for developing, deploying and consuming financial applications.
TONIK Selects Finastra’s Core Banking Solution to Power Southeast Asia’s First Pure-Play Licensed Digital Bank
January 21, 2020 - Finastra announced today that TONIK, the first licensed digital-only bank in Southeast Asia, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities. The move will support TONIK as it launches its retail deposit and customer loans services in the Philippines, giving it agility and the ability to scale quickly.
Pancreta Bank to Optimize Regulatory Compliance with Finastra
December 5, 2019 - Finastra today announced that Pancreta Cooperative Bank, a leading cooperative organization in Greece with more than 85,000 active members, has selected its Fusion Risk solution to automate regulatory reporting and minimize the cost of compliance.
December 2, 2019 - Finastra today announced that it has joined the World Economic Forum. The move will see the company collaborating with industry leaders and policy-makers to drive change across financial services, world trade and beyond, to help build a better, sustainable future.
Askari Bank Selects Finastra to Power its Trade Finance Business
November 19, 2019 - Last week at Finastra Universe Dubai, Finastra announced that Askari Bank, a leading commercial bank in Pakistan, has chosen its market leading trade finance solution, Fusion Trade Innovation, to digitalize its trade finance business.
United Arab Bank Chooses Finastra to Power Digital Transformation
November 14, 2019 - Finastra announced today, during Finastra Universe Dubai, that it has signed a transformative deal with United Arab Bank, a UAE-based bank that offers services to retail and corporate customers.
Lisa Fiondella Joins Finastra as Chief Data Officer
November 21, 2019 – Finastra has hired Lisa Fiondella as Chief Data Officer to lead its comprehensive data strategy, including how data collected through the FusionFabric.cloud platform and various cloud-based solutions, can be best utilized.
Finastra Launches Fusion Treasury Essential – Helping Banks Automate Treasury in just 90 days
November 4, 2019 - Finastra today unveiled Fusion Treasury Essential – a packaged solution designed for smaller banks that don’t already have a dedicated treasury system, but are looking to automate and modernize the treasury function.
Finastra Appoints Mehjabeen Poonawala as New India Head
October 30, 2019 - Finastra today announced the appointment of Mehjabeen Poonawala as its new Head of India. In this new expanded role, Mehjabeen is responsible for driving Finastra’s growth strategy and deepening the company’s partnerships and footprint in India, in addition to her existing roles as Site Lead for Pune and Head of Finastra’s Agile Center of Excellence.
Ripple to Bring Blockchain Technology to Finastra’s Banking Customers
October 9, 2019 – Ripple, the enterprise blockchain solution for global payments, and Finastra have teamed up to offer Ripple’s blockchain technology through Finastra’s payments solutions to support fast cross-border payments.
Seattle Bank Expands Relationship with Finastra to Drive Innovation
October 2, 2019 – Seattle Bank, a single branch boutique bank with $650 million in assets, has selected Fusion Phoenix from Finastra to be the open, modern core to run its banking operations, enabling the bank to better serve clients.
Finastra Launches Fusion Mortgagebot Data Insights to Help Financial Institutions Optimize their Mortgage Business
October 1, 2019 – Finastra has launched Fusion Mortgagebot Data Insights – a powerful new tool that benchmarks mortgage borrower behavior and demographics for banks and credit unions against that of more than 1,400 other Fusion MortgagebotPOS users.
Allied Payment Network and Monotto Launch First Apps Built with Financial Institutions on Finastra’s FusionFabric.cloud
September 30, 2019 – Ahead of its Finastra Universe Community Markets event in Chicago, US, this week, Finastra has announced the launch of two new applications built on its FusionFabric.cloud open development platform.
Finastra and NetGuardians Team Up on AI-Powered Financial Messaging Fraud Detection
September 23, 2019 – Today at Sibos 2019, Finastra has announced its partnership with Swiss Fintech, NetGuardians, which sees the two companies launching an AI-powered fraud detection solution for financial messaging.
FNBT to Grow its Business with Finastra’s Open Core
September 18, 2019 – First National Bank and Trust Company (FNBT), headquartered in Beloit, WI, with 16 locations in Wisconsin and Illinois and approximately $1.2 billion in assets, has selected the Fusion Phoenix core banking platform and a suite of solutions from Finastra.
Access to Funding Top Priority for Corporate Treasurers Today According to Finastra Research
September 10, 2019 - Ahead of Sibos 2019, Finastra commissioned IDC to survey 400 corporate treasurers around the world to reveal key treasury priorities. The findings show that access to funding, risk management and improving usability are top of mind for treasurers today.
Finastra Gears Up for SFTR with Regulatory Reporting as a Service
September 5, 2019 - Finastra announced today that it has launched a tailored, Securities Financing Transaction Regulation (SFTR) reporting tool that will help banks prepare for the April 2020 deadline.
Finastra Strengthens APAC Team with Wissam Khoury as New Head
August 30, 2019 - Finastra has appointed Wissam Khoury to lead its Asia Pacific (APAC) business. In this new expanded role as Senior Vice President and General Manager for Middle East and Africa (MEA) and APAC, Wissam is responsible for driving Finastra’s growth strategy, strengthening its regional footprint, accelerating sales and continuing to deepen customer partnerships across both regions.
Finastra Lands Core Cloud Deal with Neobank, Gravity
August 15, 2019 - Finastra has today announced that Gravity, a new UK-based bank seeking authorization to serve SMEs with lending, credit card and deposit services, has selected Fusion Essence in the cloud for its end-to-end core banking capabilities.
Finastra Achieves SWIFT Certified Application Label 2019 for Payments Solution
August 8, 2019 - Finastra announced today that Fusion PAYplus Financial Transaction System (FTS), its payment processing and messaging application for the European market, has achieved the SWIFT Certified Application label for a seventh consecutive year.
Revverbank selects Finastra’s Cloud Banking Solution to Power its New Services for SMEs
July 24, 2019 - Finastra announced today that revverbank, a Manchester-based new bank for regional businesses and savers in the UK, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities.
Berkshire Bank to Offer Real-time Payments with Finastra
June 18, 2019 - Berkshire Bank of Massachusetts is upgrading its payments technology to Finastra’s flagship payments solution, Fusion Global PAYplus, in order to be among the first regional banks in the Northeast to offer real-time payments capabilities.
More Global Banks Commit to Finastra’s Fusion LenderComm
May 14, 2019 – Finastra has signed three global banks on its Fusion LenderComm platform as part of a coordinated campaign, including BNP Paribas, Natixis and Societe Generale. With NatWest, which joined recently, the ramp up signals a move towards a new era of efficiency in this complex space.