revverbank selects Finastra’s Fusion Essence for powering SME service

revverbank

Simon Paris (CEO of Finastra) and Arpan Gautam (CEO of revverbank)

Finastra has announced that Manchester-based revverbank has selected Fusion Essence in the cloud for powering its core banking capabilities as well as providing scalability and flexibility for launching its SMEs and retail savers- focused services.

According to the supplier, revverbank will benefit from the solution through low cost of entry, speed of deployment, increasing business volumes, product diversification and cost-effectiveness. The neobank will be able to leverage Finastra’s open innovation platform, FusionFabric.cloud.

Arpan Gautam, Founder & CEO of revverbank said, “Fusion Essence in the cloud solution will give us the ability to serve customers personally and efficiently, allowing us to focus on regional lending relationships and great saving rates. Our proposition will be underpinned by Microsoft’s Azure platform, which gives us comfort that our content is in secure hands.”

Established in 2017 in Manchester, revverbank is a specialist lender and savings bank.

Anand Subbaraman, General Manager, Retail Banking at Finastra said, “As a new entrant in the UK business banking sector, revverbank has spotted an opportunity to harness digital technologies and a lower-cost operating model. This helps set it apart from more traditional banks by offering the type of services and speed of response that SMEs really want. Fusion Essence in the cloud is ideally suited to the needs of this market, which means revverbank can achieve a speedy return on investment and will be continuously supported by highly experienced teams at both Finastra and Microsoft.”

“This is a breakthrough deal in the UK market for Finastra’s Retail Banking Cloud offering and we look forward to working closely with the revverbank team as they prepare for launch,” he continued.

Recently, Finastra partnered with UK-based intelligent automation software company Xceptor, in a bid to offer new reconciliation functionality to its securities market customers

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