Finastra launches apps built with FIs on FusionFabric cloud platform
Financial services company Finastra has launched two applications on its FusionFabric.cloud development platform in partnership with Allied Payments Network and Monotto.
Chief product and technology officer at Finastra, calls the development a “significant milestone” for the vendor’s platform.
“It also marks a revolution in how APIs can be harnessed to quickly build and deploy innovative new financial services solutions,” he adds.
“Fintechs, like Allied Payment Network and Monotto, benefit from the Fusion Store ability to market their solutions to a huge customer base through this marketplace.”
The Allied Payment Network real-time bill solution is designed to help financial institutions “retain and grow” their customer base, according to Finastra.
The application, built in partnership with Certified Federal Credit Union in the US, moves funds from the user’s bank account “immediately”.
Ralph Marcuccilli, founder and chief executive officer at Allied Payment Network, says: “Consumers today have so much choice in financial providers, which is driving financial institutions to find new ways to engage their clients and remain relevant.
“FusionFabric.cloud is a game-changer – it cut our development and integration time from 10 weeks to two days.”
See more: FNBT chooses Finastra’s Fusion Phoenix
Atlanta-based fintech Monotto has created an automated savings tool, RoboSave. Using artificial intelligence, the application attempts to determine how much money consumers can save without affecting their spending habits.
“52% of Americans don’t have $400 set aside for an emergency,” says Christian Ruppe, co-founder and CEO at Monotto. “Integrating RoboSave to FusionFabric.cloud has significantly raised demand for our app, and we have contracts out with several Finastra clients.
“The speed at which Finastra’s clients can onboard RoboSave is quicker than one week – pre-API revolution, this was just a dream.”