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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 Finastra’s cloud-based solutions and 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.

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