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Finxact and Zafin team to support Core Banking transformation

By Delisha Fernandes

May 03, 2024

  • Core Banking
  • Financial Institutions
  • Fintech news

FinxactFinxact, a Fiserv company and provider of next-gen core banking platform, has partnered with Zafin, to enhance how financial institutions approach core transformation projects.

Zafin’s enterprise product and pricing capabilities deliver a holistic 360-degree view of a customer’s relationship with a financial institution. This enables financial institutions to introduce real-time, responsive product and pricing strategies across multiple product systems, aligning with evolving customer expectations. The result is faster time to market than is typically associated with core transformation projects, fostering an agile environment that promotes continuous innovation and tangible business outcomes.

“Zafin and Finxact are teaming up to provide an integrated offering to meet a critical need, a pressing requirement of the largest financial institutions that manage millions of customer relationships. With the visibility and responsiveness that the Zafin platform enables, financial institutions can offer true relationship banking at scale. Together we are providing these institutions an enduring competitive advantage that will extend the customer lifetime value,” said David Ortiz, Head of Partnerships at Finxact.

This approach is a critical differentiator in core transformation projects, allowing banks to generate new revenue streams that in turn help fund the core transformation project itself, creating a self-sustaining cycle of innovation and growth.

Furthermore, the collaboration between Finxact and Zafin presents a compelling proposition for banks currently operating on disparate cores by offering them a strong incentive to consider Finxact as their eventual core system. This collaboration will allow banks to maintain and deepen the full relationship-based understanding and pricing mechanics for their customers during and after their transition to Finxact, facilitating a seamless shift without sacrificing customer engagement.

“Our partnership with Finxact is a game changer, bringing essential product and pricing capabilities across all product systems. By integrating our platform with the Finxact next-gen core banking platform, we offer financial institutions a faster way to core modernization and, more importantly, the ability to achieve business outcomes quickly,” said Chris Dickin, Global Head of Strategic Partnerships at Zafin.

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