Finastra launches Next-Generation Fusion Data Cloud Platform for Financial Services

Today, Finastra announced the availability of its next-generation Fusion Data Cloud. The suite is designed to help financial institutions to grow revenue, improve customer engagement, digitize processes for efficiency, and decrease manage risk.  

Also Read: IBM Announced a New Spinoff to Accelerate its Cloud and AI Growth 

Fusion Data Cloud provides:  

  • Data ecosystem that is supported by secure Microsoft Azure technology and Fusion Data Cloud. This will enable banks to share their data with leading fintech from external data sources. These solutions are integrated with Finastra core products to enable fast delivery, drive scale, and provide flexibility to increase customer value.  
  • Actionable insights created by artificial intelligence (AI) and machine learning (ML) algorithms that predict and prescribe analytics and delivery of real-time decision-making service. For example, potential churn and better understand customer behavior.  
  • Connected experiences: Business Intelligence (BI) tools provide analytics visualization and omnichannel interaction with six AI- and ML-driven BI solutions. For example, gain an operational and 360-degree view based on payment data based on mortgage data.  

Eli Rosner, Chief Product and Technology Officer at Finastra, says “Finastra is uniquely placed to connect fintech, financial institutions, and third parties to accelerate the creation of innovative data solutions for our customers and our partners. Those that embark on this data journey with us can kick start their move towards deeper customer insights and business growth. Our open ecosystem revolutionizes the innovation process – advanced analytics can generate crucial insights for financial institutions to help them personalize and transform the customer experience, reduce risk, and amplify business results.”   

Justin Taylor, Managing Director at Vector Risk said, “Without access to Finastra’s Fusion Data Cloud, we would need to take each institution’s unstructured data, understand it, clean it, and apply a structure. This could take many months, if not years to achieve. With Finastra managing the data securely for all, it’s a win-win for all parties. We’re excited to be live in the FusionStore with our app.”