Unqork and TransferWise joins Finxact marketplace

By Pavithra R

Finxact, a Core banking software provider, has announced the addition of two new Marketplace members: New York-based Unqork, a provider of enterprise no-code application development technology and International payments leader TransferWise. 

Finxact is spear-heading the transition in the United States to a model of core banking that combines the benefits of the cloud with the ability for banks to readily select best-in-class technology providers.

Recently, Unqork was valued at $2B following its most recent capital raise. The firm, through its no-code platform, drives up quality and drives down the cost of mission-critical application development. TransferWise, currently valued at $5B, is a global technology company building the best way to move money around the world.

“Unqork’s no-code platform was designed to support mission-critical applications in regulated industries like financial services, so joining the Finxact Marketplace makes perfect sense. It’s now easier than ever for Finxact customers to get started building the bank of the future with Unqork and, as a result, we are going to drive a lot of value in the industry,” said Brian Karimi-Pashaki, Director, Technology Partnerships & Marketplace, Unqork. 

By joining the Finxact Marketplace, TransferWise’s API will allow banks and credit unions (CUs) to provide their customers with leading international payments experience: fast, low cost and transparent. Both companies share Finxact’s commitment to cloud and API-enabled banking that give banks maximum choice, efficiency and control over the experience they create for their customers.

“I’m excited to announce TransferWise’s partnership with Finxact, a company that similarly values transparency. TransferWise ultimately wants to ensure that everyone has access to fast, cheap, and transparent international money exchange, and this partnership with Finxact is the next step in achieving this mission,” said Abid Mumtaz, Global Head of TransferWise for Banks.

“We are delighted to welcome these two companies to the Finxact Marketplace and into the projects and conversations with our clients and prospects. Their value propositions are in high demand as evidenced by their success,” said Christopher McClinton, CMO, Finxact.

Founded in 2016, Finxact is innovating the first enterprise-class public cloud/private data Core-as-a-Service platform with a completely open banking API. The company has secured the funding and support of strategic investors that include the American Bankers Association (ABA), First Data, Accenture Ventures, SunTrust Bank, Live Oak Ventures, Woodforest National Bank, T.N. Incorporation Ltd., and other strategic industry leaders.