Finastra Strengths, Domain Expertise, and Key Differentiators
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, Finastra provides the broadest portfolio of financial services software spanning retail banking, transaction banking, lending, and treasury and capital markets. Their solutions enable customers to deploy mission-critical technology on-premises or in the cloud. Their scale and geographical reach mean that they can serve customers effectively, regardless of their size or geographic location—from global financial institutions to community banks and credit unions. Through their open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers.
Finastra Recent Developments
In November 2021, introduced new anti-money laundering (AML) compliance capabilities integrated with its Fusion Global PAYplus core payments solution, via Fincom.co and the FusionFabric.cloud open developer platform. Banks can tap into the Fincom.co AML screening app to access real-time compliance screening functions in line with regulatory requirements, which only continue to increase in volume and diversity, lowering operational costs.
In October 2021, Finastra introduced new instant onboarding capabilities for its Fusion Payments To Go solution. The move enables banks to access the benefits of Finastra’s SaaS solution at speed and with reduced cost, meaning organizations can bring innovative and tailored payments products to their customers with greater efficiency as demands change. Payments To Go is a SaaS payments solution, with out-of-the-box configurations, to support banks’ payment growth ambitions. It is built on Finastra’s proven Fusion Global PAYplus software, benefitting from best practice full end-to-end processing. Via open APIs, the instant onboarding capability reduces manual processes, increasing efficiency. A portal enables bank executives to answer a series of questions, automatically generating a new payments environment which they can personalize.
In May 2020, Finastra launched its Fusion Credit Connect solution. Fusion Credit Connect brings together Finastra’s proven lending ecosystem with the Salesforce Platform, integrated via APIs on FusionFabric.cloud. The new, all-in-one solution will enable banks to identify opportunities, simplify complexity, reduce time to close and increase revenues with an enhanced user experience from the origination through to decisioning of a loan. Greater efficiency and enhanced communication capabilities will boost customer experience for borrowers, ultimately helping to increase revenue.
In February 2020, Finastra brought its core banking platform, Fusion Phoenix, to the cloud, with Commerce National Bank & Trust of Winter Park, Florida, and Commencement Bank of Tacoma, Washington being the first US banks to access the core solution via public cloud.
Now, new and existing customers of its open, modern core can choose to access it via Microsoft’s enterprise-ready, trusted Azure cloud platform, for faster access to innovation, transformation at scale, and accelerated time to market. Institutions can consume rather than own and run core applications, freeing up IT resources to focus on competitiveness and growth. They can also access enhanced capabilities to mine data for meaningful insight and scale services to keep pace with bank and evolving technology needs.
In September 2018, Finastra launched Fusion Essence in the cloud, a fully integrated core and digital solution, localized for the UK Market. Deployed on Azure, Microsoft’s enterprise-ready trusted cloud platform, it is available to all banks, but is particularly suited to ambitious challenger banks, enabling them to come to market with velocity and allowing them to launch personalized offerings first and fast, maintaining a competitive edge.
Fusion Essence in the cloud frees banks from the burden of IT operations with a pay-as-you-go subscription model. Covering all UK core and digital banking requirements, including lending, digitally originated deposits, payments, and regulatory reporting, it is fully integrated with third-party providers for credit reference checks as part of AML and KYC processes and regulatory reporting. An accelerated onboarding approach powered by Fusion Essence in the cloud enables banks to launch first and, importantly, to drive fast customer adoption and business growth once live.
In June 2019, Finastra partnered with ceptor, an intelligent automation software company, to offer new reconciliation functionality to its securities market customers. Thanks to an out-of-the-box reconciliation functionality, Finastra’s Fusion Markets customers will be able to automatically reconcile and validate transactions and positions data." "In November 2021, ION Treasury launched TreasuraSpark, a simple to use cash management SaaS solution, to help high-growth organizations migrate from outdated spreadsheets to automated cash management. ION’s TreasuraSpark provides a real-time view of an organization’s available and expected cash balances. By automating the collection and reconciliation of cash movements, companies gain confidence that they have a sufficient level of cash to cover daily needs. This visibility leads to cost reductions including the opportunity cost associated with excess cash, cost related to overdraft facilities, and time saved by removing manual processes and fixing errors. TreasuraSpark delivers automation and controls to companies who require more frequent updates to cash activity and balances but find the experience of creating their cash view cumbersome.
In April 2019, ION acquired Alleg
Finastra Mergers and Acquisitions (M&A) Activities
In January 2018, Finastra acquired Olfa Soft SA and its cutting edge FX e-trading platform for banks and financial institutions. The move enables Finastra to deliver a unique end-to-end real-time eFX trading solution for banks’ treasury departments, covering distribution, position-keeping, post-trade, and payments.
Finastra collaborated with Olfa Soft since June 2017 and has already seen significant interest from the market. Now, as one combined company, Finastra can ensure even tighter integration of the FusionCapital Treasury solution suite with the Olfa Soft Seamless FX platform. Treasurers are able to manage FX positions and exposures in real-time with single user experience, providing deeper insight across the entire trade lifecycle and mitigating operational risk end to end. As well as offering direct access to 48 liquidity providers, straight-through-processing (STP) capabilities in the platform mean treasurers can act faster in response to changing market conditions and benefit from a competitive edge where milliseconds count.
Finastra Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Finastra applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Finastra and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Fusion Essence,Fusion Markets customers.
Ownership: - Vista Equity Partners
Number of Employees: 10000
Finastra Key Enterprise and Cloud Applications
Fusion Essence,Fusion Markets
Finastra Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Finastra Revenue Breakdown By Type, $M:
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Finastra Enterprise Applications Revenues By Functional Markets, $M:
Finastra Enterprise Applications Revenues By Verticals, $M:
Finastra Revenues By Region, $M
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Finastra Direct vs Indirect sales
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Finastra Customers - Breakdown by Geo, Size, Vertical and Product
No. of Finastra Customers: 8600
No. of Finastra Enterprise Applications Customers: 8600
No. of Finastra Cloud Customers: x
No. of Finastra Cloud Subscribers: x
Finastra has over 8,600 customers across 130 countries, including 90 of the top 100 banks globally.
Recent customer wins include: TruMark Financial Credit Union, Central Florida Educators Federal Credit Union, Evansville Teachers Federal Credit Union, Banco de Mexico, Rabobank, Seylan Bank, Ping An Securities, Sky Bank, USAmeriBank, PT Bank Tabungan Pensiunan Nasional Tbk,(BTPN), Oman Arab Bank, PNC, KAMCO, Lloyds Bank, Bank of East Asia, FINCA Impact Finance, Société Générale, The United Bank of Egypt, Unity Bank, National Bank of Egypt, Harmonic Fund Services, Citizens Bank, Mechanics Cooperative Bank, Peoples Trust Company, Vietcombank, Absa and others.
Finastra Market Opportunities, M&A and Geo Expansions
In October 2021, Finastra launched an online channel for innovation and collaboration: Finastra Universe - Your World. OPEN. The channel invites the industry to learn, inspire and be inspired, to celebrate and network and is designed to support the journey towards unlocking the potential of finance for everyone, everywhere. Visitors to the Finastra Universe channel can also discover the benefits of cloud-based, data-ready solutions and an open, collaborative ecosystem across specific sectors including treasury, lending, retail and digital banking and payments.
In January 2020, Finastra opened a new office In Israel. The office, which is home to over 330 employees, offers more space for the Finastra team to grow as the company strengthens its position in the country, and provides an ultra-modern workspace to inspire creativity and facilitate collaboration. The move will help the company support technological and financial innovation in the region, and drive adoption of its open development platform, FusionFabric.cloud.
In June 2018, Finastra has acquired Malauzai, a provider of mobile and Internet banking solutions for community financial institutions. The deal reflects Finastra’s commitment to the US retail and business banking sectors by further enabling digital transformation for community banks and credit unions across the country.
The acquisition is built on an already successful and proven partnership between Finastra and Malauzai, which saw the latter’s digital solution integrated into Finastra’s Fusion Phoenix core banking system. Since 2015 the two companies have amassed over 130 joint customers, including Wisconsin-based Horicon Bank, all using the combined capabilities to drive better digital engagement with their customers and members, as mobile and online banking reshapes the consumer journey.
Fusion LenderComm is a platform for the syndicated lending community which is underpinned by Corda, R3’s powerful distributed ledger technology. It reduces the cost and burden of agent-to-lender administration and enables lenders to see accurate information on-demand so they can optimize syndicated loan portfolios. The solution is blockchain-empowered."
Finastra Risks and Challenges
In July 2020, Finastra closed the sale of its Canadian-based Enhancement Services business to Sigma Loyalty Group, a provider of enhancement services and marketing programs to Canadian financial institutions and retail partners.
In July 2018, Finastra sold it's Canadian-based Collateral Management Corporation business to Teranet.
Finastra Ecosystem, Partners, Resellers and SI
In July 2020, Microsoft and Finastra unveiled a multi-year cloud agreement to facilitate the digitalization of financial services. Both firms said that the pandemic had demonstrated the need for speed and agility, and for ways to support employees who are working from home.
In June 2020, Finastra partnered with Hundsun Technologies (Hundsun) to co-develop and deliver a Chinese version of Finastra’s investment management software, Fusion Invest. The new version of Fusion Invest will be tailored for China’s regulatory and local requirements and be available to customers in Mainland China, Hong Kong, Taiwan, and Macau.
This move marks a commitment and builds on the 3,000 banks and financial institutions already supported by both companies across payments, lending, treasury, and retail banking on Azure. The agreement, paired with the unparalleled disruption of the industry, will reimagine the way banks and credit unions use technology and how we all think about sustainable, open finance. Using Microsoft platforms has already enabled Finastra to accelerate its product road maps to bring even more of its mission-critical solutions to the cloud for its 8,500 customers, alongside advancements in data, AI, and open banking.
In April 2018, Finastra is bringing its mortgage lending solutions to the cloud via Microsoft Azure. As part of the strategic alliance between the two companies to use Microsoft’s enterprise-ready, trusted cloud platform as a base for a selection of Finastra’s payments and retail banking technology, Finastra’s Fusion MortgagebotLOS product is now available via the Azure cloud. As of today, US clients that access this service will realize streamlined access to their data improved operational control and increased productivity.
By accessing technology remotely via the cloud, financial institutions benefit from a flexible cost structure in which they can access only the resources required, and where system upgrades are rolled out immediately and automatically. Cloud technology also offers enhancements in availability, disaster recovery, environment/process monitoring, mobility, and collaboration.
Finastra already uses the Azure cloud platform to deliver its payment solutions and more business lines will move to the cloud over the next 12 months. The addition of Fusion MortgagebotLOS to the cloud advances Finastra’s commitment to delivering the broadest portfolio of solutions for financial institutions of all sizes, on-premises or in the cloud.
In June 2017, Finastra IBM has reached an agreement to explore how the two companies can help customers transform their banking operations with IBM Cloud and Cognitive technologies. Finastra and IBM plan to bring IBM technology into the Finastra open architecture to enrich the digital retail banking experience and bring new innovations to the market. As part of the collaboration, Finastra intends to run its FusionBanking Essence core and digital solution on IBM Cloud.
The companies also work towards collaborating on both a Financial Crime and a Blockchain-based offering, and IBM plans to support Finastra as it develops retail banking proof of concepts and product demos, including provisioning multiple Watson APIs to infuse cognitive capabilities into its products. The FusionFabric cloud architecture and open APIs from Finastra make it possible for IBM to incorporate its technology and cognitive capabilities directly into the Finastra banking solution. Also, FusionFabric cloud enables banks, Fintechs, consultants, and students to collaborate in an app ecosystem for financial services.
Finastra Cloud Infrastructure Insights
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