Finastra has made available three core components within its FusionFabric.cloud platform for open innovation at Money 20/20 Europe.
The combined components accelerate innovation for 9,000 banks and financial institutions and give financial technology companies access to a global marketplace.
FusionCreator, one of the components, is a rapid development environment for financial applications with low-code capabilities and integrated application programming interface management tools.
The second component is FusionOperate, which is a management system to deploy and operate applications in a secure cloud infrastructure.
FusionStore, the third component, is an online marketplace for banks to search, try and buy applications.
Simon Paris, CEO at Finastra, said: “We firmly believe that collaboration is the new way of innovating and FusionFabric.cloud makes this possible. The move to bank as a platform or banking as a service will redefine the future of financial services and we are at the forefront, bringing banks and fintechs together to allow faster innovation at much lower costs.”
He added: “We are changing the way that financial services software is developed, deployed and consumed, like no one else—building the foundations of a completely new financial services ecosystem and marketplace, and thereby unlocking the potential of people and businesses alike. Our vision is to be the number one open platform for innovation in the world of financial services, and FusionFabric.cloud is already blazing a trail.”
