Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.
Finastra announced that its FusionFabric.cloud open platform is open for business and four early adopters, all US-based fintech companies, have joined the infrastructure.
Tradle, Conversation.one, Active Allocator and GreenPoint Financial, will use FusionFabric to design and create apps on Finastra’s platform in order to speed up time to market, offer innovative financial services software, and save banks’ time and money.
Natalie Gammon, Chief Cloud Officer at Finastra, commented:
“FusionFabric.cloud is unlike any other platform on the market today. More than just opening access to APIs in specific business lines, we have opened up all of our core systems, covering an incredibly broad financial services spectrum. It means Fintechs and developers can dramatically reduce build time for apps, bringing them to market faster. We see FusionFabric.cloud gathering significant pace, championing a collaborative ecosystem and changing the way the financial services industry develops and deploys software for the better.”
Rachel Batish, CRO and Co-Founder of California-based Conversation.one said, “Accessing Finastra technology and APIs through the FusionFabric.cloud platform is extremely efficient. It brings additional value to our solutions and, importantly, to our clients”.
The company offers voice banking and chat solutions for banks and credit unions. Conversation.one is using the FusionFabric.cloud developer environment to enhance its deep learning capabilities.
“The platform gives us access to more than 9,000 financial institutions across the globe. Our goal over the next two years is to deliver the capability to build cross-channel conversational solutions in minutes to close to 30% of Finastra’s clients, so they become our customers as well”, Batish added.
Tradle is a New York-based KYC solutions provider that uses blockchain. Gene Vayngrib, CEO & Co-founder at Tradle will leverage the cloud open platform to build out their offering further, making it available to the global financial services market via Finastra. “The ability to plug into Finastra’s technology and APIs is a win for us and, ultimately, a value-add for banks that will be able to purchase our KYC capabilities from the platform and quickly deploy at the bank”, Vayngrib said.
Active Allocator, also based in New York, is a digital asset allocation platform that creates bespoke portfolios in minutes. It joined the FusionFabric.cloud platform to integrate its service with Finastra’s Fusion Invest software.
Sameer Jain, Founder and CEO at Active Allocator said:
“The developer environment on the FusionFabric.cloud platform gives us easy to use, pre-integrated tools to help us build out apps in low-code. We’ll be able to develop quickly with a drag and drop interface and, in turn, help financial institutions extend their Fusion Invest capabilities and access innovation at a low cost.”
NY-based GreenPoint Financial is a regtech startup for banks and insurance companies. Sanjay Sharma, Founder and Chairman of GreenPoint Financial, said: “We are planning to build an FRTB trading optimization app for treasury and capital markets on FusionFabric.cloud. The open platform will enable us to bring our vision to life quickly and get this app to market while it is particularly timely, given the regulatory pressure the industry faces at the moment.”