Description of the offer:

Finxact Core as a Service is a next generation cloud-native core banking platform.

Type of user that benefits from the offer:

As the transaction processing engine and inventory management system for a bank's deposit and loan positions, a bank's core system manages its most critical workloads. Today most mid-size and large financial institutions in the US are still running core systems that were developed before the advent of the internet. These legacy systems impose constraints on banks that must innovate quickly in order to remain competitive.

Customer need or pain that the offer addresses:

Increasingly banks must interact with their customers in purely digital channels, and there they must meet very high consumer expectations as they pertain to user experience and service quality. This means that banks cannot afford to have product innovation and delivery encumbered by legacy core systems that can't keep up.

The same legacy systems make it difficult for banks to readily access core transaction data, and costly to over or under provision additional capacity. Operational continuity is not embedded into this delivery model as resiliency becomes a separate cost for the bank in the form of maintaining geographically distributed data centers.

Finxact Core-as-a-Service is developed using a modern Go runtime to deploy and maintain containerized applications at massive, on-demand scale. It is delivered as a SaaS solution with redundancy across multiple Azure availability zones. Its API-first design provides banks complete and efficient access to their data.

Next-gen features:

Cloud-native - containerized applications designed to deploy into an elastic and resilient cloud to ensure operational continuity
Real-time - transactions are always in balance and end of day manual processes are eliminated
Extensible Data Model - banks and their partners can now write new attributes to any object, adding their own schema to the data model to create new products on demand
API-first - with complete and efficient access to core data, banks are empowered to leverage Analytics, Machine Learning, and AI to capture insights from the explosion of data that will come with IoT

Finxact Core-as-a-Service

by Finxact