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Finastra welcomes new fintechs into platform

Finastra has welcomed a bevy of new companies into its open architecture platform, which enables participants to develop and deploy applications.

Among the new participants are Efficiency MC, Conpend and BankBI. In addition, Thomson Reuters joins Finastra’s innovation ecosystem as a data provider. The firm is currently embedding its instrument reference data into

Brennan Carley, global head of enterprise at Thomson Reuters, said of the new partnership: “This collaboration is all about making it easy for customers to access the valuable insight our market leading reference data delivers.

Related: IBSI chats to Simon Paris, deputy CEO at Finastra

“Our open, agile Elektron Data Platform means we can integrate rapidly with partners such as Finastra to power the apps on its ecosystem with our trusted data and provide customers with choice in how they consume our content.”

Paris-based system integrator Efficiency MC will use the platform to develop an interest rate derivatives pricing model app. The firm’s associate director, Alexandre Arnoux, said of the tie-up: “The beauty of the platform is that it enables us to work on multiple projects and we’ll be able to deploy the apps at low cost, as they are ready for market.”

Efficiency MC is also exploring additional apps for Fusion Invest, the Finastra investment management solution, and Finastra’s FusionBanking Trade Innovation, for trade finance.

Read more: Finastra makes US play with new CU deals

Conpend will use the platform to develop apps for the corporate banking space. Marc Smith, founder and MD of the company, reckons that banks will need rich and powerful API tools to connect with AI and machine learning applications they plan on using in the future.

“The architecture is a pleasure to work with and has made integrating Automated Transaction Screening into the platform a breeze,” he added.

Other users of include RaisePartner, GMS and University College London.

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