Finastra extends collaboration with National Bank of Greece for ISO 20022 migration
January 19, 2022 – Finastra is supporting National Bank of Greece (NBG) with its transition to the new ISO payments standard, due to come into force from November 2022. The bank is upgrading to the latest version of Finastra’s Fusion Global PAYplus payments hub.
Leading digital bank Tinkoff selects Finastra to power expansion into Asia
December 16, 2021 – Finastra today announced that Tinkoff, one of the world’s largest digital-only banks serving over 18.5 million customers, has selected Finastra’s Fusion Essence Cloud core banking solution to power its planned expansion into the Philippines. Finastra’s next-generation, cloud-native system will enable Tinkoff to bring a powerful new offering to market quickly and support rapid customer acquisition, whilst maintaining compliance with local regulations.
Finastra and Liquid sign global agreement to help banks integrate cryptocurrency services
December 13 , 2021 – Finastra and Liquid have today announced plans to make Liquid’s Quick Exchange (QEX) app available through Finastra’s open developer platform and app store, FusionFabric.cloud. Through integration with Finastra’s Fusion Essence core banking solution, QEX will enable banks to meet rising interest in cryptocurrency by offering services including buying, swapping and payments.
Finastra expands leadership team to position for growth
December 9, 2021 – Finastra has expanded its leadership team to position itself to further drive growth and continue supporting its thousands of customers as digital transformation in financial services accelerates. The news comes as the company pivots to a ‘business unit’ led model, welcoming several new executives to the team, and initiating some exciting internal moves.
Hundsun Technologies subsidiary acquires rights to Finastra’s Fusion Summit business in Mainland China, Hong Kong and Macau
December 2, 2021 – CloudWing NetWork Technologies CO., Inc. (“CloudWing Network”), a subsidiary of Hundsun Technologies, has acquired the rights to Finastra’s Fusion Summit product and book of business in Mainland China, Hong Kong and Macau. CloudWing Network will develop, license and deploy the Fusion Summit treasury management solution for customers in these markets and develop a Chinese version of the solution that will be tailored to the specific local requirements, enabling banks to take advantage of both domestic and international opportunities.
Finastra expands Fusion LIBOR Transition Calculator
November 24, 2021 – Finastra has introduced additional Alternative Reference Rates (ARR) and Risk-Free Rates (RFRs) to its Fusion LIBOR Transition Calculator. The move enables banks, corporates and borrowers to calculate ARR in preparation for the end of the majority of LIBOR rates on December 31, 2021. In addition to SOFR for the US dollar and SONIA for pounds sterling, the calculator service now incorporates ARR rates €STR for the euro, TONAR for the Japanese yen and RFR rate SORA for the Singapore dollar.
Options provides hosted environment for Finastra’s Fusion Invest in the Cloud
November 23, 2021 – Options, the leading provider of cloud-enabled managed services to the global capital markets, and Finastra, the largest pure-play software vendor that serves the entire financial services industry, today announced the availability of Fusion Invest in the cloud, powered by Options’ technical infrastructure.
Finastra partners with Hexaware to accelerate digital payments for selected European banks
November 10, 2021 – Finastra today announced its partnership with Hexaware Technologies (Hexaware) to provide managed services for Finastra’s payments solutions deployed in the cloud. The move helps Hexaware customers in Germany, Belgium, the UK and Ireland take ownership of their payment infrastructure. The partnership brings together the companies’ industry leading payments and integration experience, to provide mid-sized banks with an end-to-end Payments as a Service (PaaS) offering which helps them remain competitive while mitigating operational costs.
Finastra and WTax collaborate to help asset management firms optimize withholding tax recovery process
November 3, 2021 – Finastra is teaming up with WTax, a world leader in withholding tax recovery services, to support asset management firms in recovering withholding tax on behalf of their clients. By introducing Fusion Invest customers to WTax, Finastra will help portfolio and investment managers around the world to deliver net savings for end clients, recovering tax that has been levied on income from securities investments in territories where they are non-resident.
Finastra expands payments compliance offering with Fincom.co, via FusionFabric.cloud
November 2, 2021 – Finastra today announced the introduction of new anti-money laundering (AML) compliance capabilities integrated with its Fusion Global PAYplus core payments solution, via Fincom.co and the FusionFabric.cloud open developer platform. Banks can tap into the Fincom.co AML screening app to access real-time compliance screening functions in line with regulatory requirements, which only continue to increase in volume and diversity, lowering operational costs.
Finastra and AccessFintech team up to bring greater data transparency to syndicated loan market
October 20, 2021 – Finastra, the largest pure-play software vendor that serves the entire financial services industry, and AccessFintech, the data-sharing network optimizing workflow through collaboration, today announced that they have teamed up to bring greater data transparency, efficiency and industry-wide collaboration to the syndicated loan market.
Finastra launches online channel for innovation and collaboration: Finastra Universe - Your World. OPEN
October 19, 2021 – Finastra’s online destination for innovation and collaboration launched today: Finastra Universe - Your World. OPEN. The channel invites the industry to learn, inspire and be inspired, to celebrate and network and is designed to support the journey towards unlocking the potential of finance for everyone, everywhere.
Workers Credit Union selects Finastra to power innovation and position for growth
October 14, 2021 – Finastra today that Workers Credit Union has selected Fusion Phoenix as its new core banking solution to grow its membership, future-proof its business and strengthen its position against competitors, including digital banks. In addition, it will use Fusion MortgageBot, Fusion ECM, Fusion Originate, Fusion Analytics, Fusion Treasury Essential and other Finastra solutions to bolster its offerings.
Finastra and Bakkt announce plans to enable crypto trading for community banks and credit unions
October 13, 2021 – Finastra and Bakkt today announced plans to make Bakkt’s digital marketplace and wallet available through Finastra’s open developer platform and app store, FusionFabric.cloud. Through the partnership, Bakkt, the trusted platform that enables consumers to buy, sell, store and spend a range of digital assets, including bitcoin, will be available to customers of community banks and credit unions, as part of Finastra’s Fusion Digital Banking solution.
Finastra introduces instant onboarding for cloud payments technology
October 11, 2021 – As Sibos 2021 opened (virtually) today, Finastra announced new instant onboarding capabilities for its Fusion Payments To Go solution. The move enables banks to access the benefits of Finastra’s SaaS solution at speed and with reduced cost, meaning organizations can bring innovative and tailored payments products to their customers with greater efficiency as demands change.
First National Bank of Manchester selects Finastra to upgrade its core
September 29, 2021 – Finastra today announced that First National Bank of Manchester (FNBM) has selected Fusion Phoenix as its new core banking solution to best serve its account holders and grow the bank. The decision represents an upgrade from its previous core, also from Finastra.
Tesselate becomes official distributor of Finastra’s Fusion Invest software for the Moroccan asset management market
September 28, 2021 – Tesselate Africa, a subsidiary of Tesselate Group, and Finastra, the largest pure-play software vendor that serves the entire financial services industry, today announced their partnership. Tesselate Africa is now certified as a distributor of Finastra’s Fusion Invest solution, bringing a comprehensive front-to-back experience for asset managers to Morocco.
Finastra introduces Total Lending Home to deliver access to its lending solutions via a single entry point
September 22, 2021 – Finastra has launched Total Lending Home, a new cloud-based portal to launch and manage the Total Lending suite of solutions. Current lending products available through the Total Lending Home portal include Fusion LaserPro, Fusion DepositPro, Fusion Compliance Reporter and ProSign Online, with additional lending products to follow.
Allied Payment Network brings bitcoin wallet to banks and credit unions through Finastra platform
September 13, 2021 - Allied Payment Network (Allied) and Finastra today announced Allied Bitcoin Wallet, a new app to be launched on Finastra’s FusionStore. The service, created by Allied, in partnership with NYDIG, will enable financial institutions to offer their customers and members the ability to buy, sell and hold bitcoin via a compliant, secure and turnkey platform. Allied is the first bill pay provider in the industry to embed this service into a payment platform and offer it to financial institutions.
Finastra and Salt Edge collaborate to provide a more personalized banking experience
August 18, 2021 – Finastra today announced its collaboration with Salt Edge to improve the speed of compliance with the Payments Service Directive 2 (PSD2) and other global Open Banking standards, for banks and Electronic Money Institutions (EMIs) worldwide. The integration of the Salt Edge Software-as-a-Service (SaaS) solution, Open Banking Compliance, with Finastra's core banking solutions, Fusion Essence and Fusion Equation, enables institutions to build the necessary architecture to support end-to-end banking requirements and compliance through one Application Programming Interface (API). The integration is carried out via Finastra’s open development platform, FusionFabric.cloud.
Fusion Phoenix is the open core of choice to empower US financial institutions beyond traditional banking models
August 17, 2021 – Finastra announced that it has signed 25 financial institutions to its Fusion Phoenix core banking platform during its 2021 fiscal year (ending May 31, 2021). These institutions include a mix of banks and credit unions that have selected the software for its ability to meet their unique needs with a flexible core that can easily scale and evolve. Among the new customers that have recently selected Fusion Phoenix are Peoples Credit Union, First National Bank of Manchester (KY), and Fowler State Bank.
Finastra secures SWIFT Compatible Application label for Trade Finance
August 16, 2021 – Finastra today announced that it is the first technology provider to secure the SWIFT Compatible Application label 2021 for Trade Finance. The achievement proves that Fusion Trade Innovation, Finastra’s global trade and supply chain booking engine and processing solution, meets rigorous SWIFT industry standards. The solution is ready to support customers ahead of the SWIFT SR2021 go-live in November this year, which impacts Category 7 Guarantees and Standby Letters of Credit messages.
Surex partners with Filogix to integrate insurance quotes into the mortgage application process
August 9, 2021 – Surex, Canada’s fastest growing online Insurance Marketplace™, and Filogix, a Finastra company that has served as the technology hub of the Canadian mortgage industry for over two decades, have partnered to enable mortgage brokers to initiate a home insurance quote alongside any mortgage application with a single click.
Leading financial technology company, Finastra, opens Nottingham office
August 6, 2021 – Finastra, a leading global financial technology company, yesterday opened its new office space in Nottingham, UK, with a ribbon-cutting ceremony. The office is a Center of Excellence for the business, which has 9,000+ employees worldwide, and will function as a collaboration hub for 50 local employees, a number that is expected to grow over the next few years.
Teachers Building Society selects Finastra’s Fusion Essence Cloud to digitally enhance customer journey
August 4, 2021 – Finastra today announced that UK-based specialist building society, Teachers Building Society, has selected Fusion Essence Cloud, its next-generation Software as a Service (SaaS) core banking solution, to deliver a new core and digital banking service.
Teachers Building Society selects Finastra’s Fusion Essence Cloud to digitally enhance customer journey
August 4, 2021 – Finastra today announced that UK-based specialist building society, Teachers Building Society, has selected Fusion Essence Cloud, its next-generation Software as a Service (SaaS) core banking solution, to deliver a new core and digital banking service. Fusion Essence Cloud will help Teachers Building Society (Teachers BS), the first-ever UK building society customer to invest in the solution, process significantly higher volumes of mortgages, savings applications, and money transfers; enabling the firm to continue to grow its member base through an enhanced customer experience.
International Chamber of Commerce and Finastra bring trade funding marketplace pilot to Ecuador
July 28, 2021 – The International Chamber of Commerce (ICC) and Finastra have announced Ecuador as the first market in which they will run the pilot for their trade funding marketplace (announced earlier this year). The ICC TRADECOMM™ marketplace, powered by Finastra, aims to reduce trade finance barriers for SMEs and enable all parties to benefit from improvements in matching supply and demand, ultimately decreasing the global $1.5 trillion dollar trade finance gap.
Finastra appoints new payments head to drive growth
July 21, 2021 – Finastra today announced the appointment of Oren Marmur in the role of General Manager, Payments. Based in Israel, with a global remit, Oren will lead the Payments Growth business, delivering end-to-end Payments solutions to customers globally, and continuing to promote the product modernization journey towards a cloud-based platform and ecosystem. His focus will be on supporting new and existing customers on their digital transformation journeys.
Filogix Private Lender Gateway launches to connect private lenders with mortgage brokers
July 14, 2021 – Filogix, a Finastra company, announced the launch of Filogix Private Lender Gateway, a new portal that connects private lenders to the Filogix Mortgage Marketplace. The solution enables private lenders to conduct business with Filogix’s network of over 17,000 mortgage professionals across Canada, without the need for additional technology.
NAMMBA and Finastra announce partnership to effect positive change in the mortgage industry
July 12, 2021 – The National Association of Minority Mortgage Bankers of America (NAMMBA) and Finastra have partnered to bring about positive change in the mortgage industry, meeting the needs of underserved communities and developing a more diverse mortgage workforce. As a Diamond Plus Partner to NAMMBA, Finastra will support the purpose-driven organization’s efforts to enrich and improve the situations of women and minorities who work in the real estate finance industry.
Finastra and Hundsun Lirong partner to enhance treasury capabilities for Chinese banks
July 8, 2021 – Finastra , headquartered in London, UK, and Hangzhou Hundsun Lirong Software Co. Ltd. ("Hundsun Lirong"), a subsidiary of Hundsun Technologies Inc., have today announced a partnership to co-develop a Chinese version of Finastra’s Fusion Opics treasury solution, Hundsun Mangos. Built on Hundsun Technologies’ cloud-based platform, the new solution will be tailored to the specific requirements of the Chinese market whilst also meeting international standards, enabling banks to develop and deliver high quality treasury operations and capitalize on opportunities.
Integration across Filogix Expert, Expert Plus and Expert Pro guarantees seamless experience regardless of platform
July 6, 2021 – Filogix, a Finastra company, announced that Filogix Expert Plus and Filogix Expert Pro, the recently launched digital cloud-based point-of-sale mortgage solutions, are now fully synced to Filogix Expert. This ensures the mortgage data captured in the new digital platforms is available to support established administrative functions.
Fargo Public Schools Federal Credit Union expands digital functionality with Finastra
June 24, 2021 – Finastra today announced that Fargo Public Schools Federal Credit Union, a not-for-profit, member-owned financial cooperative providing services to the employees of Fargo Public Schools and their families, has gone live on Finastra’s Fusion Digital Banking platform. The new digital banking solution will bring the credit union’s members more features and functionality, and greater integration with ancillary solutions through FusionFabric.cloud, Finastra’s open and collaborative developer platform and marketplace for financial solutions.
Finastra and Uni Systems collaborate to deliver treasury, payments and risk solutions and services
June 22, 2021 – Finastra has established a new partnership with Uni Systems Information Technology S.M.SA (Uni Systems), an Information and Communications Technology (ICT) systems integration company that specializes in Information Technology landscape transformation in Europe. Uni Systems will be bringing Finastra treasury, risk and payments software – Fusion Treasury, Fusion Risk and Fusion Global PAYplus respectively – to local markets with on-the-ground implementation and support services.
Finastra showcases Open Banking innovations during DIFC Innovation Month
June 13, 2021 – Finastra, the largest pure-play software vendor that serves the entire financial services industry, is participating in Dubai International Finance Centre (DIFC) Innovation Month, which focuses on early-stage fintech start-ups and helps them innovate towards a new generation of Open Banking platforms. Finastra aims to equip fintech firms and developers with the right tools to transform their ideas into viable prototypes and will showcase its open development platform – FusionFabric.cloud.
Filogix appoints Jerry Lo to lead digital strategy in the Canadian mortgage industry
June 9, 2021 – Jerry Lo has joined Filogix, a Finastra company, as Vice President, Filogix. In this role, he will advance Filogix’s mission to modernize the Canadian mortgage industry by digitizing mortgage processes.
Arkéa Banking Services selects Finastra’s Fusion Risk to support operational transformation of financial institutions in France
June 8, 2021 – Finastra today announced that Arkéa Banking Services, a subsidiary of Crédit Mutuel Arkéa and a major player in the provision of banking and insurance services in France, has selected Finastra’s Fusion Risk solution to help streamline operational processes and reduce operational costs for local banks.
Glenhawk selects Finastra's Fusion Essence Cloud to drive customer engagement
May 19, 2021 – Finastra today announced that UK-based property finance specialist, Glenhawk, has selected Fusion Essence Cloud, its next-generation banking solution, to support its growing lending business, by maximizing the operational efficiency of the loan approval and completion process. Fusion Essence Cloud will give Glenhawk a complete view of its lending portfolio, delivering accurate management information in real time, in one place – enabling it to manage its business proactively and grow additional revenue streams.
Broker One to provide digital mortgage capabilities through Filogix Expert Pro
May 17, 2021 – Filogix, a Finastra company, announced that Real Mortgage Associates (RMA) & Broker One, Eastern Canada’s leading network for independent mortgage brokerages, has selected Filogix Expert Pro to provide its members with digital mortgage capabilities. The digital mortgage platform will empower brokers and other mortgage professionals within RMA and the Broker One network to run their businesses their way, from anywhere, with an improved digital customer experience, enhanced workflow optimization and the ability to manage new opportunities and fund deals more rapidly.
Finastra harmonizes origination for deposits, loans and mortgages to provide a seamless digital experience
May 12, 2021 – Finastra today announced the launch of Fusion Originate, a single platform encompassing consumer and business deposits, loans and mortgages. The harmonized user experience for digital online channels and back office benefits from the expertise of the Finastra UX team and design thinking to deliver a consistent and simplified user experience with a broad range of functionality.
Finastra extends partnership with Be | Shaping the Future with managed services cloud proposition
May 10, 2021 – Finastra has extended its long-standing partnership with Be | Shaping the Future (Be), an international group providing consulting, IT and digital engagement services to the financial services industry. The move will see Be providing managed services – through its Germany-based subsidiary Be | Shaping the Future GmbH – for Finastra’s treasury and capital markets software (Fusion Kondor and Fusion Risk) deployed in the cloud across Germany, Austria and Switzerland (DACH).
BANK OF AFRICA selects Conpend TRADE AI app, via Finastra, to digitize trade processes
April 28, 2021 – Finastra has announced BANK OF AFRICA, a pan-African financial group, has selected Conpend’s TRADE AI app from its open innovation platform, FusionFabric.cloud. The app extends the functionality of Finastra’s Fusion Trade Innovation technology and enables users to reduce document and compliance checking time. It digitizes trade finance processes, using optical character recognition (OCR), natural language processing (NLP) and progressive machine learning to reduce the risk and cost of trade finance operations.
Mizrahi-Tefahot Bank selects Finastra to support cross-border payments
April 26, 2021 – Finastra today announced that Mizrahi-Tefahot Bank, the third largest bank in Israel, has chosen its pre-packaged payments solution, Fusion Payments To Go. The solution, aimed at small and medium-sized banks looking to implement domestic and cross-border payment services, will enable the bank to offer its customers frictionless and immediate payments, with reduced, fixed implementation cost. With a modern and agile solution in place, the bank will be able to better serve its customers, and in turn to grow its business, whilst being prepared for changing regulations such as ISO 20022.
Finastra makes Fusion KTP available in the cloud for bank and corporate treasurers
April 22, 2021 – Finastra today announced the availability of its Fusion KTP integrated global treasury management solution in the cloud. Existing customers are already in the process of migrating to Finastra’s cloud solution which is hosted on Microsoft Azure. Accessing Fusion KTP in the cloud will give users the opportunity to accelerate innovation and time to market, and the ability to transform their operations at scale.
RMA and Finastra improve commercial banking risk assessment through dual risk rating
April 21, 2021 – The Risk Management Association (RMA) and Finastra today announced a strategic initiative to advance commercial banking risk rating frameworks for US financial institutions. Through this partnership, RMA Dual Risk Rating scorecards will be available through – and fully integrated with – Finastra’s Fusion CreditQuest commercial lending platform.
Filogix, a Finastra company, enhances Notice of Assessment functionality in Filogix Expert Pro
April 15, 2021 – Filogix, a Finastra company, announced that Filogix Expert Pro now offers enhanced NOA functionality through an exclusive partnership with MrTaxes.ca Inc. The new functionality provides an unparalleled level of service to the Expert Pro user, all accomplished within the Expert Pro platform, with a turnaround time of as little as 30 minutes (within business hours), once customer consent is received.
Finastra and HUBX collaborate to streamline loan syndication process
April 13, 2021 – Finastra today announced its collaboration with HUBX to bring increased efficiency to corporate lenders during the loan syndication process through the reduction of manual processes. The integration of the HUBX digital front-office platform, HUBX Arranger, with Finastra’s market leading back-office loan software, Fusion Loan IQ, creates an enhanced end-to-end offering which boosts efficiency and harnesses data insights and automation to ultimately improve customer experience. The integration is carried out via Finastra’s open development platform, FusionFabric.cloud.
Unity One Credit Union delivers an enhanced digital experience with Finastra
April 7, 2021 – Finastra today announced that Unity One Credit Union — headquartered in Fort Worth, Texas, and with branches in Kansas and Minnesota — has gone live on Finastra’s Fusion Digital Banking. Now members will have the ability to access all aspects of their banking relationship, through a single, seamless, and easy-to-use digital banking channel.
Finastra integrates Enigio solution with Fusion Trade Innovation to make paperless trade finance a reality
March 25, 2021 – Finastra today announced the integration of its Fusion Trade Innovation and Enigio’s trace:original to create a solution for managing and handling digital original documents using distributed ledger technology.
Finastra Joins the FedNow Pilot Program to Advance Instant Payments in the United States
March 15, 2021 – Finastra announced that it has joined the Federal Reserve’s FedNow Pilot Program to support development, testing and adoption of the FedNow Service. Finastra joins other progressive banks, credit unions and payments technology organizations in the FedNow Community to help shape the future of payments and develop use cases that leverage FedNow functionality.
International Chamber of Commerce and Finastra Team up to Tackle the Trade Finance Gap
March 10, 2021 – The International Chamber of Commerce (ICC) and Finastra have committed to a strategic initiative to tackle the growing trade finance gap. Both organizations are orchestrating an ecosystem and exploring the development of a financing marketplace that will provide micro-, small, and medium-sized enterprises (SMEs) with access to a broader set of alternative finance resources in order to help keep the global economy moving forward.
Finastra Successfully Migrates Fusion Phoenix Core Clients to Microsoft Azure
March 9, 2021 – Finastra today announced it has successfully migrated its Fusion Phoenix core banking system customers to Microsoft Azure. With 62 community banks and credit unions migrated in the past year, this significant milestone means that all Fusion Phoenix bank and credit union customers that have opted for cloud delivery are running in Azure.