Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Seattle Bank taps Finastra’s core banking system

Seattle Bank

John Blizzard, President, and CEO of Seattle Bank

Seattle Bank has selected Finastra’s core banking system ‘Fusion Phoenix’ to better serve clients. The system will be integrated with additional Finastra solutions, including Fusion Mortgagebot, Fusion Card Payments, Fusion Analytics, Fusion Item Processing Services, Fusion LaserPro, and Fusion Digital Banking.

As a part of the deal, the bank will be deploying Fusion Phoenix solution in combination with FusionFabric.cloud. Finastra’s cloud-based solutions and FusionFabric.cloud are underpinned by Microsoft Azure.

Using the Platform-as-a-Service (PaaS) solution, Seattle Bank will have access to an open platform, enabling the bank and third parties to develop applications. The open banking platform is expected to offer improved usability, lower cost of service, and open database architecture, according to a statement.

“Changing core banking systems is the hardest project a bank can undertake, hence less than 2% of banks in the US will typically switch cores in a given year,” John Blizzard, President, and CEO of Seattle Bank said.

“By using solutions hosted on Microsoft Azure, Seattle Bank will realize faster access to innovation and speed to market. The bank will consume rather than own and run core applications, freeing up IT resources to focus on competitiveness and growth…” Jamie Tozzi, General Manager, Microsoft Corporation said.

Founded in 2017, Finastra offers a portfolio of financial services software spanning retail banking, transaction banking, lending, and treasury and capital markets. Its solutions enable customers to deploy the technology on-premises or in the cloud. Through its solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of customers.

Related IBS Intelligence Research

Related Posts

Rapyd logo

Rapyd completes acquisition of Iceland’s Korta

UK-based Rapyd, has completed the acquisition of Korta, an Iceland-based payment card service provider. Rapyd helps merchants, gig-economy platforms, and technology providers create and launch applications without having to build payments infrastructure. Korta provides merchants with a range of in-store and digital payment acceptance solutions. The deal was originally announced in April 2020. Rapyd CEO […]

This post is only available to members.

Read More »
P20 logo

P20 analyses global Payee Verification approaches

P20 has published its interim report Payee Verification: Overview of Approaches used by Credit-Push Payment Systems. The report from P20’s Regulation Working Group which focuses on criminal transactions and fraud, examines the approaches being used to reduce authorised push payment (APP) fraud and compares the methods being used in the US, UK, and Australia. The […]

This post is only available to members.

Read More »

Signicat: 41% of Europeans shut off from financial services in lockdown

Digital identity specialist Signicat has found that 41 per cent of consumers across Europe have been unable to access new financial services as a result of lockdown restrictions and a lack of access to digital options. In a research report, the Norwegian identity provider found that while consumers have had to turn to online and […]

This post is only available to members.

Read More »
OpenPayd

OpenPayd releases crypto banking and payments service

API-led Banking-as-a-Service provider, OpenPayd has released its banking and payments solution for digital currency businesses. The service is expected to provide cryptocurrency businesses with access to a range of banking and payment networks. According to OpenPayd, the platform will offer crypto businesses with access to crypto-friendly banking, simplified cryptocurrency purchase, fiat and digital currency exchange […]

This post is only available to members.

Read More »

Adyen expands acquiring capabilities to Malaysia

Adyen, an Amsterdam-based global payments platform, announced the expansion of its acquiring capabilities to include Malaysia. The company has launched its acquiring solution in Malaysia to help local businesses achieve higher authorization rates, better customer experience, and deeper data insights as the Malaysian market transitions to online payments. “Rolling out our acquiring solution in Malaysia demonstrates […]

This post is only available to members.

Read More »