Ushering transformative growth through ease of banking: Finastra

The banking industry is one of the integral parts of the economy of a nation. While technology and digitization have made banking easier and more accessible to the common man, this industry has seen little in the way of disruptive innovation. In an era of increasing choice and regulation, all customers – corporate, institutional and retail – are demanding greater value from financial services. They expect more agility, innovation, integration, and security than ever before. Attempting to change that is a Fintech company called Finastra. Formed in 2017 by the combination of Misys and D+H, Finastra builds and deploys innovative, next-generation technology on its open Fusion software architecture and cloud ecosystem. The company’s scale and geographical reach mean that it can serve customers effectively, regardless of their size or location—from global financial institutions to community banks and credit unions.

The team at 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 delivers flexible, componentized software that allows clients to gradually upgrade existing systems through open interfaces. The company believes in long-lasting relationships, always putting its customers and their customers first and acting as a trusted advisor for transformation.

Here are some of Finastra’s solutions for banking & finance:

Retail Banking

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’s retail banking software solutions are designed to help you to complete it. The company’s portfolio is the broadest, deepest suite of integrated solutions for retail banks, commercial banks, universal banks, community banks, and credit unions. Finastra’s innovative solutions cover the following verticals:

Core Retail Systems

The banking core is the single most important technology investment a financial institution makes.

Finastra’s award-winning core banking solutions have the breadth of functionality to handle the most sophisticated banking requirements. They include the latest innovations to maximize operational efficiency, reduce cost-to-income ratios, and ensure compliance and speed up time to market.

Integrated with advanced analytics, Finastra’s solutions generate the insight needed to develop timely and relevant products and services and can be combined with its market-leading digital channels. With front, middle and back-office connected, your financial institution becomes a consumer-focused, profitable sales machine.

Whether you are a traditional or challenger bank, a community bank or a credit union, Finastra can help you to engineer your financial institution and processes around your accountholders. The company’s open modern, flexible platform helps you to deliver the ultimate consumer and staff experience, the operational efficiency for growth and compliance, and ongoing innovation.

Insights and Analytics

Many financial institutions are on a mission to become more consumer-centric. But how well do you really know your consumers? What services and products attract them most? Knowing this, how can you then leverage data to identify their needs and gain wallet share?

Business analytics and insights are no longer a luxury, but a necessity in a world where fintech startups are starting to steal wallet share away from banks and credit unions.

For many banks and credit unions, data remains an underused and underappreciated asset. The ability to use quantitative data to shape business decisions and outcomes have become a key source of competitive advantage as consumers demand more qualified information and expect more personalized experiences. It is critical for financial institutions to be able to segment clients based on needs, channel propensity and potential value.

Analytics and insights are rising to the top of banks’ and credit unions’ priority lists; According to the Financial Brand’s 2016 State of Financial Marketing, “National and regional banks have the desire to improve analytics capabilities as their third-highest “top three” priority (47%).”

Business analytics and insights software help you gain insight into the profitability of customers, branches, and products and deliver services that your consumers will value most.

Lending

Seamless borrower experience

Finastra offers the most comprehensive portfolio of end-to-end loan management software in syndicated, commercial, consumer, and mortgage lending. It creates a consistent, seamless digital borrower experience for large multinational corporations, mid-sized and small business customers, and consumers.

Easier lending

Covering the full loan lifecycle – origination, underwriting, covenant tracking, collateral management, loan servicing, and portfolio reporting – Finastra’s solutions make lending easier by improving customer onboarding, increasing transparency and streamlining back-office operations.

Reduce complexity

As the only single, open-architecture solution provider for all loan types, Finastra enables easy integration and helps reduce the complexity and costs associated with managing multiple systems.

Meet the brains behind Finastra’s meteoric rise, Simon Paris

Simon serves as the CEO of Finastra. Simon 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. 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 SAP. Prior to that, he was a senior consultant with McKinsey & Company.

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. 

“Enabling you to transform with agility in a hyper-connected world.”