The Silicon Review
Financial institutions today must manage new payment types, conduct multi-currency and multi-product transaction banking operations worldwide, and securely exchange complex payment and trade information. All while continuing to offer superior customer service in a highly regulated and increasingly competitive landscape. Retail banking is changing at unprecedented speed. Success depends on satisfying the demands of the digital-savvy consumers and leveraging emerging technologies while complying with tougher regulations and constantly innovating. It’s a tough to-do list.
Finastra is one such company which builds and deploys innovative, next-generation technology on an open Fusion software architecture and cloud ecosystem. The firm was formed in 2017 by the combination of Misys and D+H. The scale and geographical reach mean that the company can serve customers effectively, regardless of their size or location—from global financial institutions to community banks and credit unions. Finastra brings deep expertise and an unrivaled range of pre-integrated solutions spanning retail banking, transaction banking, lending, and treasury and capital markets. With a global footprint and the broadest set of financial software solutions available on the market, Finastra has $1.9 billion in revenues, 10,000 employees and over 9,000 customers, including 90 of the top 100 banks globally.
Finastra’s open development platform unlocks innovation in financial services. It is changing the way modern banking software is built and distributed. With their open development platform, FusionFabric cloud, the firm is blending innovation through collaboration by opening up their core systems in Retail Banking, Payments, Lending, Corporate Banking, and Treasury & Capital Markets through open APIs so third parties can develop applications on top. Finastra has evolved from packaged software to micro-services, open APIS and continuous delivery, made possible with their development platform via open interfaces, standards, and architecture.
FusionFabric.cloud unlocks innovation by fostering open collaboration within an ecosystem of development partners. A major innovation for financial services, it opens up Finastra’s core systems via this platform to all players in the financial services ecosystem – banks, fintechs, system integrators, independent developers, consultants, students – enabling the development of a previously unachievable range of services.
FusionFabric.cloud is made up of 3 core components:
Fusion Creator:Finastra Developer Portal which hosts API Catalog and provides access to Finastra’s open APIs, complete with developer documentation and sandbox access
Fusion Operate:The secure production environment, hosted on Microsoft Azure, to connect your apps to Finastra software running in Financial Institution environments across the world
Fusion Store:The marketplace from which applications developed with FusionFabric.cloud can be promoted, bought, sold and consumed
With FusionFabric.cloud, Finastra champions open collaboration, driving the future of banking with an open platform approach.
Finastra’s most trusted solutions and services
Finastra retail banking software solutions are designed to help you to complete it. Their portfolio is the broadest, deepest suite of integrated solutions for retail banks, commercial banks, universal banks, community banks, and credit unions.
The firm provides the technology platform and components you need to succeed in the fast-changing world of retail banking. Their flexible, agile and open solutions cover:
Leader in lending
Finastra offers the most comprehensive portfolio of end-to-end loan management software in syndicated, commercial, consumer, and mortgage lending. They create a consistent, seamless digital borrower experience for large multinational corporations, mid-sized and small business customers, and consumers.
Finastra’s transaction banking software helps you meet this challenge. You can bring new products to the market faster than ever before, with increased STP and lower operational costs. Their secure financial messaging and SWIFT connectivity solutions simplify interbank communication and ease the burden of regulatory compliance.
Meet the pre-eminent leader behind the success of Finastra
Simon Paris is the Chief Executive Officer of Finastra. He takes responsibility for Finastra’s strategic direction and growth. His leadership steers the company as it realizes it’s open platform vision, encouraging industry-wide collaboration to spark innovation and transform the next generation of financial services. A firm believer in the principles of doing well by doing good, Simon chairs the World Trade Board and is passionate about how technology and open trade can drive financial inclusion and improve people’s lives.
Simon joined Finastra (formerly Misys) as President in 2015, was appointed Deputy Chief Executive Officer in 2017 and became Chief Executive Officer in June 2018. He brings more than 20 years of sales, management and global leadership expertise to the company, having previously held the role of President, Industry Cloud, at SA. He holds a degree in Business Administration (MBA) from the INSEAD Business School in France and a Bachelor’s degree in Business & European languages from the European Business School.