Finastra crosses milestone of 150 apps on FusionStore marketplace

By Joy Dumasia

Finastra is celebrating over 150 apps now available in its FusionStore marketplace for financial institutions to tap into innovation at speed via the FusionFabric.cloud open developer platform. The apps reflect significant momentum for the platform and Finastra’s growing ecosystem, within which FinTechs can reduce time to market and overcome collaboration challenges.

Open platform momentum sees more FinTechs able to access growing markets and reduce sales cycles. Financial institutions gain fast access to innovative app capabilities, including digital banking, cross-border payments, regulatory compliance and more.

FinTechs using the FusionFabric.cloud platform benefit from growing addressable markets, reduced project implementation time and reduced sales cycles – sometimes cut from six months to just one month.

As financial institutions redefine their bank operating models to become customer-first, a platform approach enables agility and generates growth. Financial institutions can quickly customize their services to customer demand by accessing new apps, accelerating innovation and time to market.

Vincent Pugliese, SVP & General Manager, Platform at Finastra, said, “This is an exciting milestone in the growth of our FusionFabric.cloud platform, with over 150 apps now available for financial institutions to tap into. These apps have been sourced through incubators, innovation hubs, existing customers, industry analysts and developed within Finastra and cover an ever-increasing number of use cases, including digital banking, cross-border payments and regulatory compliance and reporting. We’re proud to be able to orchestrate this growing ecosystem, enabling collaboration that helps fintechs and financial institutions worldwide access the benefits of an open platform approach.”

Recently, IBS Intelligence reported that Finastra research reveals that Banking as a Service (BaaS) and embedded banking services are set to have a notable impact on the industry. Whilst all markets broadly anticipate this trend – 85% of respondents at global financial institutions – Hong Kong (92%), the UAE (90%) and Singapore (87%) expect the impact to be most significant.