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Finastra develops open cloud-based platform for fintechs

FinastraGlobal fintech company Finastra has come up with a cloud-based platform that will allow financial services companies to develop apps with minimum coding and offer a marketplace for them to collaborate with banks. Called FusionFabric.cloud, the firm is offering it is a Platform as a Service (PaaS). It will be an open innovative platform that will change the way banks develop and deploy software. FusionFabric.cloud is expected to help Finastra’s clients embrace open banking as the platform enables fintech companies and other ‘creators’ of financial applications (including banks, universities, system integrators and individual developers) to easily build, deploy and operate cloud applications, through open APIs to Finastra’s core banking infrastructure. Finastra has been running an early adopters program on the platform since July 2017, which has seen over 60 fintech firms and software providers sign up. FusionFabric.cloud is now available to banks. This includes the 3 core components of the platform: FusionCreator, FusionOperate and FusionStore.

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