(BlockBar) Finastra deepens Microsoft collaboration – mortgage and loan workflows built on Microsoft tech via Fusion Fabric cloud open platform.
Ahead of its FusionONE developer conference, co-hosted with Microsoft, Finastra unveiled the latest developments to its FusionFabric.cloud open platform for innovation. As half of financial institutions in the UK and US look to implement cloud collaboration, adoption of Finastra’s open platform is gathering pace, with over 300 Fintechs now registered.
Further to its strategic alliance with Microsoft, which sees Microsoft Azure underpin FusionFabric.cloud, Finastra has now built select solutions on top of Microsoft Power BI, Microsoft PowerApps and Microsoft Dynamics 365, via the platform. The move is part of the company’s shared vision to drive innovation through collaboration.
Separately, nbkc bank is collaborating with Finastra to build a conversational banking app on FusionFabric.cloud. This is all made possible by APIs, of which Finastra revealed 61 new additions to its developer catalog.
“What we are seeing today is an unprecedented shift in the way financial services businesses from across the globe collaborate, innovate and compete, with half of UK and US financial institutions looking to collaborate in the cloud,” said Simon Paris, CEO at Finastra. “FusionFabric.cloud brings together banks, Fintechs and SMEs onto a single open platform, allowing advanced technologies such as facial recognition, AI, machine learning and voice interaction apps to be created, deployed and monetized in the same ecosystem. The updates we are unveiling here are very much part of our goal to encourage collaboration in the financial services ecosystem and unlock limitless potential for innovation.”
The 61 new open APIs (and more than 200 Endpoints) span many of Finastra’s solutions, including retail and corporate banking (both enterprise and North American community markets), consumer lending and mortgage, payments and treasury and capital markets. These are now available in the FusionFabric.cloud API catalog for developers to harness in building financial services applications. Some of these powerful APIs are already enabling:
Finastra software built on Microsoft technology
Finastra has built its Fusion Mortgagebot solution on top of Power BI and PowerApps, via FusionFabric.cloud. Using innovative artificial intelligence and data visualizations, this functionality adds powerful analytics and dashboards to help users uncover trends and spot new business opportunities.
