Finxact

Finxact Core is a cloud-native core banking platform designed by Finxact. According to the vendor, it aims to enable financial institutions to innovate and deliver digital banking experiences. It is suitable for regional and super-regional banks of all sizes, including banking institutions, financial services providers, fintech companies, credit unions, and community banks.

Key Features

According to the vendor, Finxact Core is built as a cloud-native core banking platform, leveraging containerized applications designed for deployment in an elastic and resilient cloud. The vendor claims that this approach enables global accessibility, scalability, and cost-effectiveness by reducing capital costs, infrastructure costs, development costs, and maintenance costs.

The vendor states that Finxact Core provides real-time banking capabilities, allowing financial institutions to process transactions and access data in real-time. It offers real-time processing of deposits, withdrawals, transfers, and other banking transactions. According to the vendor, real-time data access empowers banks to provide up-to-date account information to their customers and support real-time decision-making.

Finxact Core is described as an extensible platform that allows banks to easily integrate with third-party applications and services. The vendor claims that it offers a robust set of modern APIs, enabling seamless integration with various banking and financial technology solutions. The extensible architecture of Finxact Core allows banks to rapidly deliver new experiences by creating products on demand and integrating new services as needed, according to the vendor.

According to the vendor, Finxact Core is designed with an API-first approach, providing maximum flexibility for banks to develop and deliver innovative digital banking experiences. The open banking API allows banks to expose their services and data to third-party developers, fostering collaboration and enabling the creation of new banking applications and services. The vendor states that the API-first design allows for easy integration with other systems, leveraging existing technology investments and driving digital transformation.

The vendor claims that Finxact Core enables banks to quickly innovate and bring new products and services to market. It provides a platform for agile product development, allowing banks to test and launch new value propositions and reach new market segments. The platform supports rapid product iteration and deployment, empowering banks to respond quickly to changing customer needs and market trends, according to the vendor.