Simon Paris, CEO, Finastra

Finastra has launched new additions to its FusionFabric.cloud open platform for innovation. Post its alliance with Microsoft, Finastra has now built select solutions on top of Microsoft Power BI, Microsoft PowerApps and Microsoft Dynamics 365, via the platform, thus deepening the collaboration with Microsoft.

Apart from this, Finastra has built its Fusion Mortgagebot solution on top of BI via FusionFabric.cloud. The supplier states that leveraging AI and data visualizations helps unveil new business opportunities.

Simon Paris, CEO at Finastra said “FusionFabric.cloud brings together banks, Fintechs and SMEs onto a single open platform, allowing advanced technologies such as facial recognition, AI, machine learning and voice interaction apps to be created, deployed and monetized in the same ecosystem. The updates we are unveiling here are very much part of our goal to encourage collaboration in the financial services ecosystem and unlock limitless potential for innovation.”

US-based nbkc bank will collaborate with Finastra for building a conversational banking app on FusionFabric.cloud. The platform boasts of 61 new APIs spanning many of Finastra’s solutions including retail and corporate banking, lending etc.

Eric Garretson, CFO and Fintech Strategy Leader at nbkc said, “Voice services pose an untapped opportunity for the financial services industry. Consumer adoption of voice devices is growing rapidly due to the inherent on-demand access and convenience they provide. That’s not to say other channels will fade away, but more chatbot functionality and ability to bank via Siri, Cortana and Alexa will be increasingly important. For a community bank like us at nbkc, we want to be at the forefront of new and changing communication channels and ensure we can meet customers wherever they are; together with Finastra we’re building the foundation with the FusionFabric.cloud platform to do so. And, now that we’re connected to these APIs, we can innovate in other areas as well.”

Recently, Finastra’s Fusion LenderComm platform attracted three global banks namely- BNP Paribas, Natixis and Societe Generale, to its blockchain campaign.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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