US bank FNBT chooses Finastra’s Fusion Phoenix core technology
US-based First National Bank and Trust Company (FNBT) has chosen Finastra’s Fusion Phoenix for its core banking platform, along with a selection of Finastra’s digital banking products.
Serving 16 locations across Wisconsin and Illinois with approximately $1.2 billion in assets, FNBT now wants to evolve with its customers through this core change, offering customer data access as well as internally standardising processes, reducing costs and maximising efficiencies.
Already a long-serving Finastra customer, the bank has also selected 11 other solutions from the provider for digital banking and analytics, among other things.
“Our customers are our family,” says FNBT’s president David McCoy. “This not only includes consumers, but a large number of small, family businesses that rely on our cash management and loan services.”
McCoy wants to serve FNBT’s customer family “a robust mix of financial solutions”, covering areas from loan processing to the digital platform, to create a “complete ecosystem”.
For FNBT’s SVP and technology director George Hausermann, Finastra offers a “truly open core” which gives the bank an opportunity to innovate through third-party fintechs without dealing with the hurdles imposed by traditional cores.
Finastra’s senior vice president of community markets Mike Dionne agrees. He says: “Having a connected suite of solutions and a platform approach that allows for external innovation enables community banks and credit unions to achieve more and remain competitive with the larger financial institutions.”