Financial services software provider Finastra announced today that several companies are using its open technology platform to create and deploy apps that could be commercialized through its FusionStore portal, which is in development.
“This is an incredibly positive step for the future of financial software development,” Finastra CTO, platforms Hugh Cumming said. “To see third parties from all different parts of the industry collaborating in a vibrant ecosystem, on top of our trusted technology, demonstrates a new wave of innovation. We’re enabling this shift with our rock solid FusionFabric.cloud architecture, which uses open technology to speed innovation and is based on over 35 years’ experience in the industry. It will ultimately drive down prices, provide new capabilities and accelerate time to market for exciting new app ideas.”
One of those companies is Raise Partner, a provider of portfolio optimization for insurance firms. It is producing an app supporting Solvency II capital requirements and will integrate with Finastra’s FusionInvest management solution.
“Being able to build on the FusionFabric.cloud architecture affords us several benefits and that’s why we jumped at the opportunity to be an early adopter,” Raise Partner CEO Sophie Echenim said. “As well as being able to reach the extended Finastra customer base with our innovative offering, we can save costs and create efficiencies when it comes to development. Finastra customers will be able to enjoy the solution without any integration efforts as the app is integrated upfront with the Finastra core system data.”